Nifty 500 faces broad correction with most stocks deeply lower
The Nifty 500 index is going through a rough patch.
449 Nifty 500 stocks, or 89.8%, are more than 10% below their all-time highs.
252 have dropped at least 30%, and 102 have lost over half their value since their peaks.
It's one of the broadest corrections the index has seen in a while.
Foreign investor concerns hit large-caps
Even large-cap stocks, usually considered pretty safe, aren't immune this time.
Analysts point to things like rising US yields and a weaker rupee, which make foreign investors nervous, especially since they own big chunks of these companies.
Unlike usual corrections where mid- and small-cap stocks are hit harder due to earnings or high prices, this time it's more about global pressures.
With so many stocks down, investors are being extra picky about where to put their money next.