Indian stock markets fall for 2nd day-Xinhua

Indian stock markets fall for 2nd day

Source: Xinhua| 2023-01-27 22:22:45|Editor: huaxia

NEW DELHI, Jan. 27 (Xinhua) -- India's stock markets, Sensex and Nifty, crashed for the second day on Friday on account of a sharp decline in banking, financial, metal and oil and gas indexes, showed the data released by the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).

While BSE's Sensex fell by 874 points or 1.45 percent, NSE's Nifty declined by 287 points or 1.61 percent. The two stock markets reached their lowest levels in the past three months, said media reports.

The fall in India's stock markets is also attributed to the recent pulling out of funds by foreign portfolio investors (FPIs), which are learnt to have sold assets worth 170 billion Indian Rupees (around 2 billion U.S. dollars) in Indian stock markets during the month of January so far.

"Chairman of Adani Group Gautam Adani saw his wealth plummet by over 48 billion U.S. dollars in two days, as shares of his companies continued to plunge for the second day on Friday," said a report by The Times of India.