Sensex, Nifty down 10% from Sept peak: Is it the right time to invest?
Nifty50 is currently valued at 20.6 times of its trailing 12-month earnings, following recent market corrections.
Nifty50 is currently valued at 20.6 times of its trailing 12-month earnings, following recent market corrections.
The BSE midcap and smallcap indices were the worst hit, while the financials, realty and auto sectors also showed significant weakness.
IT index rises over 1%, led by sectoral heavyweights TCS, HCL Tech, Infosys, and Tech Mahindra.
The BSE Sensex declined 1,492 points, or 1.87%, to hit a low of 78,233, while the NSE Nifty lost 488 points, or 2%, to 23,816 levels.
Currently, there are 16 ongoing NFOs, with 6 actively managed funds—three sectoral and three pure equity schemes.
The m-cap of BSE-listed companies has fallen to ₹461.06 lakh crore, from ₹478.34 lakh crore at the end of trade on September 26, 2024.
On Tuesday, the Nifty50 index managed to extend its winning streak, albeit only by a whisker, settling the session just one point higher at 25,280.
The unwinding of Yen carry trades, U.S. recession fear, and geopolitical tensions in the Middle-East have triggered sell-off in global equities.
The sentiment was dented by weak U.S. manufacturing PMI data, which triggered sell-off in the global equity market.
Infosys shares dropped 1.3%, while other IT heavyweights such as TCS, Tech Mahindra, HCL Tech, and Wipro fell in the range of 1-2%.