On A Downward Spiral

The market sentiment remained deeply pessimistic over the past fortnight, pushing India’s benchmark Nifty 50 into uncharted territory by logging its fifth consecutive month of decline—a record-breaking slump not seen in 28 years. The index has now corrected over 15 per cent from its all-time high, reflecting the extent of investor unease. Foreign institutional investors (FIIs) remained net sellers during the fortnight, offloading equities worth around ₹29,800 crore.