Indian markets dropped over 4% this week due to middle east tensions and FII outflows. Major sectors like auto, banks, infra, and energy faced heavy selling. FIIs are moving funds to China, leading to significant cash market selling. Analysts predict continued pessimism with a possible consolidation phase ahead amidst rising crude prices.
Asian stocks advance as Fed’s rate cut lifts mood
Asian markets followed Wall Street higher after the US Federal Reserve lowered interest rates. Fed Chair Jerome Powell indicated confidence in the US economy’s future.