New Delhi: Benchmark stock indices in India slumped for the fifth straight day, touching a multi-month low.
The fall was due to a host of factors, including relatively weak Q2 earnings, sustained foreign fund flows, and rising domestic inflation.
Sensex closed at 77,691 points, down 984 points or 1.25 per cent, while Nifty closed at 23,559 points, down 324 points or 1.36 per cent. All the sectoral indices were deep in the green.
"Indian equity markets slipped after opening in positive territory due to a sell-off across the sectors amid a rise in dollar index and relentless foreign outflows," said ICRA Analytics.
With the much-closely-watched US elections over, the Indian stock market's focus is largely focused on domestic factors -- foreign fund flows, the final phase of the Q2 earnings season, and the inflation trends. India's retail inflation was at 6.21 per cent in October, breaching the Reserve Bank of India's 6 per cent upper tolerance level.
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