IGI Logo

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

“Indian equity benchmarks, the Sensex and Nifty, faced a sharp sell-off on Thursday, closing significantly lower as banking and financial stocks led the decline. The BSE Sensex dropped 513.72 points, or 0.65%, ending at 77,634.77, while the NSE Nifty fell by 164.75 points, or 0.69%, to settle at 23,524.20. The Nifty's support level at 23,500 is now under close scrutiny, with investors wary of further downside. Globally, a strong US dollar, rising crude oil prices, and fears surrounding Federal Reserve policy weighed on sentiment. The rupee weakened further, touching a record low of 85.92 against the dollar. As investors prepare for the December quarter earnings season and monitor Union Budget expectations, markets remain cautious amidst challenging conditions.”

Above views are of the author and not of the website kindly read disclaimer