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A plunge not seen since Covid outbreak: A $10 billion question mark

India's market faces a perfect storm as FPIs abandon ship, leaving domestic buyers adrift. With Nifty 50 down 6.3% and Midcap 100 sinking 8.11%, will the bleeding stop?

Equity markets around the world continue to be on a tear. The MSCI Global Equity Index is close to its lifetime highs, up a staggering 30 per cent over the last year. But it is not just equities; all asset classes have thrived in recent months.

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Sameer Mulgaonkar

2 min read Last Updated : Oct 27 2024 | 9:54 PM IST

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Domestic markets are facing their steepest monthly setback since the global pandemic outbreak in March 2020.

On a month-to-date basis, the benchmark National Stock Exchange Nifty 50 is down 6.3 per cent, while the Nifty Midcap 100 and Nifty Smallcap 100 indices have dropped 8.11 per cent and 6.94 per cent, respectively.

For the Nifty 50 and Nifty Midcap 100, this marks their sharpest monthly decline since March 2020, while the Nifty Smallcap 100 hasn’t experienced a drop this severe since June 2022.

The downturn comes amid a record Rs 85,000 crore ($10 billion) selloff by foreign

Topics : Domestic markets India’s market cap FPIs

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