Economy
Nifty 50 Index Breaches Key Support Amid Ongoing Market Selloff
Livemint1h
THE BRIEF
1
The benchmark NSE Nifty 50 Index has fallen for seven consecutive weeks and dropped below its 200-day moving average on a weekly basis for the first time since March 2020.
2
The ongoing equities rout has wiped out nearly $250 billion in market capitalization amid rising crude oil prices, global bond yield rallies, and a weakening rupee.
3
Global funds have withdrawn close to $26 billion from Indian stocks this year, with the Nifty on track for its longest losing streak since the dot-com bubble era.