Stock Market Today (October 23): Why Did Sensex Slump Over 600 Points? Key Reasons Behind Market Decline

Stock Market Today (October 23): Why Are Sensex, Nifty Falling? Key Reasons Behind Market Decline

After opening higher, stock markets witnessed a sharp sell-off on Friday, October 23, with the Sensex falling over 600 points within two hours of the trading day. What weighed on investor sentiment? What could be the possible reasons for the sharp decline? Possible reasons as discussed by market experts, explained below.

Brent crude oil prices surged to a 5-month high, trading around 114 dollars per barrel (at the time of filing this copy) and raised concerns over inflation and higher import costs for India. Elevated oil prices could squeeze corporate profit margins and weigh on economic growth.

Continued selling by foreign portfolio investors (FPIs) has added pressure on Indian equities. Elevated US bond yields and global uncertainty have raised concerns about further foreign capital outflows.

3. Volatility Index Surges Amid Geopolitical Concerns

India's Volatility Index (India VIX) surged over 7 percent, reflecting heightened investor nervousness and expectations of sharper market fluctuations amid escalating geopolitical tensions.

Sakshi Bajaj is a seasoned Associate Editor with over 15 years of experience in broadcast journalism. She has anchored, scripted, produced shows and w… View More

Original source: https://www.timesnownews.com/business-economy