Indian Stock Market Suffers Sharp Fall: Sensex Down 300 Points, Nifty Slips 100 Points Amid Election Trends and Weak Global Cues
Mumbai: The Indian stock market opened on a weak note on Wednesday as both domestic and global factors weighed heavily on investor sentiment. Early trends from the Bihar election results, coupled with a sharp sell-off in global markets, triggered broad-based weakness across sectors. As a result, the Sensex slipped 300 points, trading around 84,200, while the Nifty dropped nearly 100 points to hover near 25,800.
Market analysts noted that the uncertainty surrounding the Bihar polls created temporary nervousness among traders. Additionally, the global market downturn influenced domestic indices, causing heavy selling in major sectors such as information technology, metals, and automobile stocks.
Major Movements in the Sensex and Nifty
Of the 30 Sensex stocks, 19 were trading in the red, reflecting bearish sentiment among market participants.
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Tata Motors Commercial Vehicles (TMCV) led the decline with a fall of 3.3%, significantly dragging the index.
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Other major companies, including Infosys and Tata Steel, also recorded noticeable declines due to sectoral pressure.
However, not all stocks were on the losing side. Shares of Adani Ports, Axis Bank, and Zomato saw positive momentum, providing partial support to the otherwise declining benchmarks.
Within the Nifty 50, 31 stocks registered losses. Sectors such as pharma, banking, and media witnessed mild upticks, but the broader pressure from IT, metal, and auto segments overshadowed the gains.
Impact of Global Market Weakness
The slide in the domestic market also mirrored a significant downturn in global indices. The Asian markets were deep in red, suggesting widespread concerns about global economic conditions and geopolitical developments.
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Japan’s Nikkei Index fell 1.65%, settling at 50,434, reflecting rising investor caution.
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South Korea’s KOSPI Index registered an even sharper fall of 2.26%, closing at 4,076.
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Hong Kong’s Hang Seng Index dropped 1.17% to 26,757, continuing its trend of volatility.
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In contrast, China’s Shanghai Composite Index recorded a marginal gain of 0.16%, ending at 4,022.
The global cues were further weakened by the US markets. On November 13, American stocks experienced a major sell-off:
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The Dow Jones Industrial Average fell 1.62% to 47,457.
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The Nasdaq Composite declined 2.29%, indicating heavy pressure in technology stocks.
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The S&P 500 Index also slipped 1.66%, completing a negative trading session across major US indices.
FII Selling Continues; DIIs Provide Support
Foreign Institutional Investors (FIIs) continued their selling spree in the Indian market. On November 13, FIIs sold stocks worth ₹383.68 crore in the cash segment. This persistent outflow is seen as a key contributor to market weakness.
In contrast, Domestic Institutional Investors (DIIs) continued supporting the market. They recorded net purchases of ₹3,091.87 crore on the same day, helping cushion the fall to some extent.
In November so far:
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FIIs have sold shares worth ₹8,684.44 crore.
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DIIs have recorded strong net buying of ₹32,890.66 crore.
In October:
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FIIs sold equities worth ₹2,346.89 crore.
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DIIs purchased stocks worth ₹52,794.02 crore, demonstrating strong domestic confidence.
Market Outlook
Experts believe that market volatility may persist in the near term due to multiple factors:
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Election-related uncertainty,
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Global inflation concerns,
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Weak global equity performance, and
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Continued FII outflows.
However, strong DII buying and steady domestic liquidity could help provide support at lower levels. Analysts expect markets to stabilize once political clarity emerges and global markets show signs of recovery.
