Indian Stocks Plunged For The Fourth Consecutive Day Amid Global Economic Concerns

Mumbai, December [Insert Date] - India's stock market opened on a weak note today, with benchmark indices Sensex and Nifty50 slipping in early trade. The downtrend was attributed to persistent global concerns, cyclical earnings slowdown, and foreign fund outflows that weighed heavily on investor sentiment.

In the morning session, the benchmark BSE Sensex fell by 414 points, trading at 78,260, while the National Stock Exchange's NSE Nifty slipped 167 points to trade at 23,706. A total of 1,948 stocks were in the red while only 335 stocks traded in the green.

However, a few sectors managed to show some resilience, including the banking sector where Nifty Bank rose by 36.60 points, or 0.07 percent, to reach 51,194.40 despite falling for the third consecutive day consecutively. Meanwhile, tech giant Infosys announced significant layoffs leading to sharp decline in stocks.

Industry trackers pointed out that concerns surrounding global economic slowdown, cyclic earnings slowdown and central bank policy rate hike have led to market volatility. Market analysts attributed investor expectations of the Reserve Bank's upcoming monetary policy review as a factor influencing market movements.

The sector-wise trends also showed the downturn while the midcap index plunged 882.20 points or 1.60 % at 54,375.30 with Nifty Small Cap hitting a sharp setback of 372.85 point or 2.07 percent falling to 17,618.75.

Stocks like Tata steel, Mahindra & Mahindra Maruti and Reliance and Nestle India fell sharply in wake of economic slowdown concerns and inflation fears are building up amidst high crude oil prices along with expected rate hikes by the RBI leading investor’s risk appetite.

The overall weakening trends can be seen as markets expect some liquidity to take shape with the coming festive season which may be a cue to buying stocks ahead.