D-Street selloff deepens as Nifty heads for eighth weekly drop
In short
Indian stocks are under pressure, and the NSE Nifty 50 has fallen for seven straight weeks. It is down 2.3% this week, and the market value has dropped by about $250 billion.
Rising bond yields, higher oil prices and a weaker rupee are hurting sentiment. It is not stated how much more foreign investors may sell or where support may hold.
What the reporting says
Indian equity markets are seeing a deeper selloff, with the NSE Nifty 50 falling for seven straight weeks and down 2.3% this week. Publisher summaries say the market has lost about $250 billion in value, while rising global bond yields, higher oil prices and a weaker rupee are weighing on sentiment. What happens next for foreign flows and support levels is not stated in the available reporting.
Why it matters
Indian equity markets are under broad pressure, with the NSE Nifty 50 down for seven straight weeks and 2.3% lower this week. Publisher summaries say the market value has fallen by about $250 billion. The move is linked in the reporting to higher global bond yields, rising oil prices and a weaker rupee, which also appears to be driving foreign investor outflows. The next level of support is not stated.