By Aayush Khanna
While yesterday’s session was a good one for bulls, today’s day was a complete U-turn. Indian investors are witnessing heavy selling pressure across the board and no sector is able to hold its ground. The Nifty IT and Nifty FMCG indices are facing the highest heat, falling 1.72% and 1.51%, respectively.
The worst-performing Nifty 50 heavyweights that are putting the highest pressure are Reliance Industries (NS: RELI ), ITC, and Infosys (NS: INFY ), all trading with a cut of 1.18%, 1.68%, and 1.21%, respectively. Stocks with lesser weightage such as Asian Paints (NS: ASPN ) and Tech Mahindra (NS: TEML ) are down over 4% each.
In fact, only 6 out of 50 Nifty 50 constituents are trading in the green zone, depicting the intense selling spree on Thursday.
One interesting thing to note amid today’s fall is a sharp rise in India VIX , which is up 12% to 13, the highest level in over 3 months. This breakout in India VIX should definitely not be ignored and it is indicating that investors are finally becoming fearful regarding the downside.
The selling might extend in the next trading session as the uncertainty over the US government shutdown is still looming around.
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