On Friday, Sensex dropped by 1,020.80 points or 1.73% to end at 58,098.92. Nifty 50 slipped by 302.45 points or 1.72% to close at 17,327.35. A broad-based selloff was recorded across sectoral indices with banking stocks taking the most beating. Consumer durables, auto, and capital goods stocks also dragged the performance. Midcap and small-cap stocks were under pressure as well.
Meanwhile, the rupee closed at 81.09 against the US dollar at the interbank forex market on the bank of the strong greenback and risk-off sentiments. The local unit had touched a fresh all-time low of 81.23 during Friday’s session.
FPIs investment in the equity market stands at ₹8,638 crore till September 23 for the current month. FPIs were net sellers in the past trading sessions. FIIs removed about ₹2,899.68 crore on September 23, which is higher than the outflow of ₹2,509.55 crore recorded on September 22. Overall, last week, FIIs removed ₹4,361.77 crore from the equities.
The investors started last week on a positive note and even made notable gains on September 22, however, as Fed’s policy neared, sentiments soured and extreme volatility was witnessed.
From September 20 to September 23, Sensex dipped by more than 1,620 points, and Nifty 50 shed nearly 489 points. However, compared to September 16 print, Sensex and Nifty 50 downfall are limited by 742 points and…
