The volatility index India VIX jumped by 2.24 per cent to 14.59, indicating a rise in market volatility.
“The Indian benchmark indices continued their downward trend for the fourth consecutive session as investor caution intensified ahead of India’s key inflation data release. The Nifty50 declined by 257 points, or 1.07 per cent, closing below the critical 24,000 mark, while the BSE Sensex dropped over 800 points to settle at 78,675. In addition to inflation concerns, weaker-than-expected Q2 earnings and sustained foreign outflows — amounting to nearly 22,156 crore so far this month — contributed to the subdued investor sentiment,” said Vishnu Kant Upadhyay, AVP – Research and Advisory at Master Capital Services Ltd.
According to analysts, the selling pressure was widespread.
