GIFT Nifty Indicates Continued Selling on Friday Following Market's Largest Single-Day Drop Since June 2024
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Indian Markets Face Further Selling Pressure After Biggest Single-Day Decline Since June 2024
M
Moneycontrol•19-03-2026, 17:47
Indian Markets Face Further Selling Pressure After Biggest Single-Day Decline Since June 2024
•GIFT Nifty suggests follow-up selling on Friday after Indian markets experienced their largest single-day decline since June 2024.
•Nifty 50 and BSE Sensex slumped over 3% on March 19, driven by HDFC Bank's chairman exit and surging crude prices due to Middle East attacks.
•GIFT Nifty was trading 0.35% lower at 23,035 on March 19, indicating continued bearish sentiment.
•Analysts predict downward revisions in earnings forecasts for Indian companies due to higher crude prices and their cascading effect on costs.
•Foreign portfolio investors offloaded stocks worth Rs 52,704 crore, with financials accounting for 60% of outflows, leading to Nifty 50's worst fortnight since March 2020.
