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Below the Quote on Markets by Mr. Vikram Kasat, Head - Advisory, PL Capital - Prabhudas Lilladher

“Today's decline marked the indices' fifth straight session of losses amid persistent selling pressure from foreign institutional investors (FIIs), with broader market sentiment hampered by a confluence of factors shaking investor confidence. The correction reflects investors' growing caution amid rich valuations and macroeconomic uncertainties, with both Nifty and Sensex falling to their respective five-month lows today.

This latest downturn was intensified by sustained foreign investor outflows, disappointing corporate earnings, and rising inflation. Since late September, foreign investors have withdrawn approximately $14 billion from Indian equities Corporate earnings have also failed to reassure markets, with several companies reporting their weakest quarterly performances in over four years. Adding to the strain, October's retail inflation reached a 14-month high of 6.21 percent, dampening hopes of an interest rate cut by the Reserve Bank of India in the near future. Further, with today marking the end of weekly Bank Nifty derivatives contracts, traders are expected to be unwinding positions, possibly weighing on banking stocks”

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