October 26, 2024 - On Friday, October 25, the market ended in the red with the Sensex falling below 80,000. Reasons for this were weak corporate earnings in the September quarter, high bond yields and strong dollar,  foreign investor outflows driven by uncertainties around stimulus packages in China and global cues because of the U.S. elections, and most Sensex-Nifty stocks slipping below their 100-day EMA. In this month, FIIs sold shares worth over Rs1,00,000 crore, leading to a 7% decline in the Sensex and Nifty in a single month.

Sensex fell 663 points, or 0.83 per cent, to close at 79,402.29, while the Nifty 50 declined 219 points, or 0.90 per cent, to end at 24,180.80. The BSE Midcap and Smallcap indices fell 1.48 per cent and 2.44 per cent, respectively.

However, analysts say there is a possibility of a minor pull back rally or sideways consolidation in the next one or two days after the sharp fall which was witnessed in Friday’s trading session.