02/01/2024
Indian Equity Indices Decline on Asian Weakness and Foreign Fund Outflows; Nifty's 20% 2023 Gain Faces Profit Booking
India's stock market faces a downturn influenced by weak Asian markets and foreign fund outflows. The BSE Sensex drops over 500 points, trading at 71,764, with the Nifty down 100 points at 21,613. Notable declines in major firms contrast with gains in select companies. Ladderup Wealth Management's Raghvendra Nath attributes the dip to profit booking after a two-month rally. Asian markets also reflect the negative trend, while Brent crude rises to $78.31 a barrel.