"Dalal Street Faces Selling Pressure as FIIs Turn Net Sellers Amid US Election Uncertainty"
Selling pressure on Dalal Street escalated during Friday's session, pushing benchmark indices down over one percent. This week has seen the Nifty 50 index drop nearly 3%, with broader markets experiencing even steeper declines. The Sensex fell by 687 points, or 0.85%, to 79,370, while the Nifty dropped 261 points, or 1.07%, to 24,138.25 shortly after noon. This marked the fifth consecutive decline for both indices, attributed to weak earnings reports, ongoing foreign institutional investor (FII) outflows, and uncertainties surrounding the US elections. The market sentiment remains bearish, impacted by continued FII selling, disappointing Q2 results, and various global concerns contributing to the sustained selloff. Foreign institutional investors (FIIs) continued to offload their holdings, negatively impacting market sentiment. On October 24, they sold equities worth Rs 5,062 crore, contributing to a total selling spree of nearly Rs 1 lakh crore this month. This wave of...