Indian stock market has been on a downward slope since June last week on tariff-related concerns, unimpressive earnings, stretched valuations and heavy foreign capital (FPI) outflow.
On Friday, August 8, equity benchmark Sensex crashed over 600 points, or nearly 0.80 per cent, to hit an intraday low of 80,011. The NSE counterpart Nifty 50 also dropped by nearly 0.80 per cent to hit the day’s low of 24,408.
The selloff was broad-based. The BSE Midcap index fell by 1 per cent, while the Smallcap index declined by about half a per cent.
Around 11:55 AM, the Sensex was 516 points, or 0.64 per cent, down at 80,108, while the Nifty 50 was 153 points, or 0.62 per cent, down at 24,443, looking set to extend losses to the sixth consecutive week.
(This is a developing story. Please check back for fresh updates.)
