Domestic benchmarks Nifty 50 and Sensex fell to selling pressure in the afternoon session on Wednesday, October 8, as investors took some profits off the table following a four-day winning streak.
At 12:15 p.m., the Sensex was down 143.39 points or 0.18 percent at 81,783.36, and the Nifty was down 58.85 points or 0.23 percent at 25,049.45. About 1535 shares advanced, 2093 shares declined, and 130 shares unchanged.
All sectoral indices barring IT and consumer durables were in the red, with FMCG, auto, realty, and PSU banking stocks leading the losses. The broader markets saw a more intense fall, with the Nifty Smallcap 100 and Nifty Midcap 100 slipping half a percent each.
All three key Wall Street indices ended in negative territory after a consumer expectations survey from the New York Federal Reserve showed deteriorating future expectations and rising inflation projections. The report garnered increased scrutiny amid a federal data blackout resulting from a partisan congressional impasse that extended the government shutdown to its seventh day.
PGIM India Mutual Fund decided to remain constructive on Indian markets over medium to longer term due to a confluence of factors such as sustainably high GDP growth, rising per capita income, financialization and digitization and a positive policy environment which could lead to steady growth for India Inc.
Despite near-term volatility driven by global trade tensions and FPI outflows, India's structural strengths — such as robust domestic consumption, policy continuity, and a resilient banking system — continue to support long-term economic growth. The country's improving macro fundamentals, including stable inflation and accelerating capex, reinforce its position as a favored destination for long-term investors.
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