Indian stocks slump to 32-month low; investors wiped out Rs 10 lakh crore in a day
AI Market Summary
Indian equities slid 1.4% to a 32-month low, erasing roughly Rs 10 trillion in market value, as persistent foreign outflows intensified risk aversion. The RBI's 25 bp rate hike to 5.5% tightens financial conditions, while Brent's weekly jump to about $104 adds inflation and margin pressure. With India down ~15% YTD, the move signals broad EM de-risking and higher volatility near-term.
Impact level
● High
Affected assets
NCSINIFTY52USD/USDT-1.51%
AI Insight · NCSINIFTY52USD/USDTAI Insight
▼ Bearish
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Indian equities fell 1.4% on Thursday, sliding to their lowest level in 32 months and erasing Rs 10 lakh crore in investor wealth in a single session. Foreign investors have been net sellers for nine straight trading days, dumping $4.8 billion, taking year-to-date outflows to a record $30.4 billion. Market sentiment has also been weighed down by the Reserve Bank of India's 25-basis-point rate hike on Wednesday to 5.5%, alongside a 4.2% weekly jump in Brent crude to $104 a barrel. Indian stocks are down about 15% so far this year, making the market one of the worst performers globally.
