Foreign outflows near ₹3,000 cr knock Sensex down 394
Indian markets had another rough day on Thursday, with the Sensex dropping 394 points to 76,365 and the Nifty down 127 points at 23,870.
The main reason? Foreign investors pulled out nearly ₹3,000 crore from Indian stocks, while domestic investors did their best to balance things by buying almost the same amount.
Nifty Bank and Nifty Midcap plunge
It wasn't just the big indexes feeling the pain: Nifty Bank fell by 535 points and Nifty Midcap lost 616 points.
Out of the top 50 Nifty companies, most ended in the red; Adani Enterprises, Nestle India, and Shriram Finance were among those hit hardest.
Rising crude oil prices dragged down sectors like paints, aviation, and oil marketing.
SRF's stock tumbled 8% after a weak outlook for coming quarters, and even IndusInd Bank slid by 6% despite posting strong earnings, showing investors are still pretty cautious right now.