MUMBAI: Indian shares fell on Thursday, logging their worst monthly performance since March 2020, as record monthly foreign outflows and lacklustre corporate earnings pummelled investor sentiment.
The NSE Nifty 50 fell 0.56% to 24,205.35, while the BSE Sensex lost 0.69% to 79,389.06.
Both the benchmarks lost about 6% in October, their worst monthly performance since March 2020 when COVID-19 lockdowns spurred a sharp slide across global markets.
The indexes also snapped a four-month winning streak during which they gained about 15%, helped by policy continuity after India’s national elections and on macroeconomic stability.
“China’s stimulus announcement which triggered record monthly foreign outflows from Indian shares and slowing earnings momentum together piled the pressure on Indian markets in October,” MRB Partners, a global investment research firm, said in a note.
Source: Brecorder
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