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Sensex, Nifty continue to correct even as global equities recover from rout

VCCircle · 1y ago

Medial

Indian benchmark equity indexes, Sensex and Nifty, continued to decline despite global equities recovering. Valuation concerns and global uncertainties are denting investor sentiment. The Nifty 50 index fell 0.26% to 23,992.55, while the Sensex dropped 0.21% to 78,593.07. Although the indexes initially rose by 1.2%, they later faced profit booking. Investors are awaiting clarity on the US economy and rate cut trajectory. The decline contrasts with positive sentiment in most Asian markets and recovery in US stock index futures. Financials and information technology companies were the most impacted sectors, while textile makers saw gains amid political unrest in Bangladesh.