<p>Bengaluru: The benchmark indices - BSE Sensex and NSE Nifty - both fell on Monday on back of persistent selling by foreign institutional investors, uncertainty ahead of the United States Presidential elections, and expectations of a fresh stimulus package by China.</p><p>The 30-share BSE Sensex tumbled 941.88 points or 1.18% to settle at 78,782.24, the lowest closing level since August 6, as investors lost nearly Rs 6 lakh crore. Nifty fell 1.27% to close below 24,000, dragged down by heavy selling in Reliance Industries and banking shares and persistent FII outflows.</p><p>FIIs have offloaded nearly Rs 1 lakh crore in October, making it the worst month for FIIs exiting the markets, and the sell-off is continuing this month.</p>.US Presidential Elections 2024 | Kamala Harris' ancestral village in India to pray for her victory.<p>“As expected, India is underperforming its global peers due to excess valuation. The ongoing selloff has deepened by weak Q2 earnings, dampening investor sentiment. Continued volatility is anticipated in the short-term, as attention shifts to the closely contested US presidential election,” said Vinod Nair, Head of Research, Geojit Financial Services.</p><p>Nair said that key economic events, such as the US Federal Reserve and Bank of England policy decisions, will be critical in shaping market movements in the coming days.</p><p>“The Nifty has corrected below 24,000 as the index slipped from its recent consolidation pattern. Sentiment will likely remain weak in the <br>short term,” said Rupak De, Senior Technical Analyst, <br>LKP Securities.</p>.<p>From the 30-share Sensex pack, Adani Ports, Reliance Industries, Sun Pharma, Bajaj Finserv, NTPC, Tata Motors, Axis Bank and Titan were among the major laggards. Mahindra & Mahindra, Tech Mahindra, State Bank of India, HCL Technologies, Infosys and IndusInd Bank were <br>the gainers.</p><p>All sectoral indices ended in the red. Realty slumped 3%, <br>oil and gas tumbled 2.54%, while energy (2.51%), telecommunication (2.11%), power (2.06%), industrials (1.72%), and commodities (1.69%) <br>also declined.</p><p>A committee of China’s National People’s Congress is meeting this week triggering speculation that the government may endorse major spending initiatives to boost the economy.</p><p>In Asian markets, Seoul, Shanghai and Hong Kong settled higher. European markets were trading mostly higher. The US markets ended in positive territory on Friday.</p>
<p>Bengaluru: The benchmark indices - BSE Sensex and NSE Nifty - both fell on Monday on back of persistent selling by foreign institutional investors, uncertainty ahead of the United States Presidential elections, and expectations of a fresh stimulus package by China.</p><p>The 30-share BSE Sensex tumbled 941.88 points or 1.18% to settle at 78,782.24, the lowest closing level since August 6, as investors lost nearly Rs 6 lakh crore. Nifty fell 1.27% to close below 24,000, dragged down by heavy selling in Reliance Industries and banking shares and persistent FII outflows.</p><p>FIIs have offloaded nearly Rs 1 lakh crore in October, making it the worst month for FIIs exiting the markets, and the sell-off is continuing this month.</p>.US Presidential Elections 2024 | Kamala Harris' ancestral village in India to pray for her victory.<p>“As expected, India is underperforming its global peers due to excess valuation. The ongoing selloff has deepened by weak Q2 earnings, dampening investor sentiment. Continued volatility is anticipated in the short-term, as attention shifts to the closely contested US presidential election,” said Vinod Nair, Head of Research, Geojit Financial Services.</p><p>Nair said that key economic events, such as the US Federal Reserve and Bank of England policy decisions, will be critical in shaping market movements in the coming days.</p><p>“The Nifty has corrected below 24,000 as the index slipped from its recent consolidation pattern. Sentiment will likely remain weak in the <br>short term,” said Rupak De, Senior Technical Analyst, <br>LKP Securities.</p>.<p>From the 30-share Sensex pack, Adani Ports, Reliance Industries, Sun Pharma, Bajaj Finserv, NTPC, Tata Motors, Axis Bank and Titan were among the major laggards. Mahindra & Mahindra, Tech Mahindra, State Bank of India, HCL Technologies, Infosys and IndusInd Bank were <br>the gainers.</p><p>All sectoral indices ended in the red. Realty slumped 3%, <br>oil and gas tumbled 2.54%, while energy (2.51%), telecommunication (2.11%), power (2.06%), industrials (1.72%), and commodities (1.69%) <br>also declined.</p><p>A committee of China’s National People’s Congress is meeting this week triggering speculation that the government may endorse major spending initiatives to boost the economy.</p><p>In Asian markets, Seoul, Shanghai and Hong Kong settled higher. European markets were trading mostly higher. The US markets ended in positive territory on Friday.</p>