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Nifty 50 slides to six-month lows as selling stays broad-based
WTI was held above $92 per barrel, but crude remained elevated enough to keep concerns about India’s import bill and inflation outlook in focus.
LiveMint Markets reports Indian benchmarks extended their slide on Tuesday, with the Nifty 50 and Sensex falling further to fresh six-month lows as the market struggled to stabilize after a sharp prior-session correction.
The outlet said selling was broad-based, with most Nifty constituents ending lower, reflecting limited appetite for dip buying and a fragile tone across domestic equities.
It also noted that crude was not the main driver of the day’s decline, with WTI staying above $92 per barrel, though elevated oil prices continue to raise concerns about India’s import bill and inflation outlook.
Weak Asian market cues and continued foreign institutional outflows added to the pressure, as global risk appetite remained subdued after a prior geopolitical shock, the outlet said.
Latest closeWTI crude $93.42 ▲1.1%|Sensex 73,895.74 ▲0.4%