Market Reality
India's equity markets, long buoyed by strong economic growth and rising corporate earnings, are now facing a sharp and prolonged correction.
The Sensex on Tuesday fell over 400 points during the early trade session as investors reacted to the lower-than-expected GDP growth rate numbers released on Friday.
Indian ‘VIX’ or the volatility index — market’s expectation of volatility over the near term — shot up by 7 per cent to 17.41.
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Except for the export-oriented IT stocks, all other Nifty sectoral index traded lower.
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At 9.32 a.m., the Sensex was down 402 points at 36,930.66. The benchmark Sensex opened at 37,181.76 from its previous close of 37,332.79.
The broader Nifty was down 108.05 points or 0.98 per cent lower at 10,915.20.
India’s GDP growth rate fell to a six-year low of 5 per cent for the April-June quarter.
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