BusinessNifty 50 Hits 18-Month Low, Sensex at 32-Month Low Amid Market Sell-Off
The Indian stock market faced heavy selling pressure due to crude oil price volatility, rising US bond yields, a weak Rupee, RBI monetary tightening, and US Fed rate hike expectations. The BSE Sensex closed at a 32-month low of 71,593, and the Nifty 50 ended at an 18-month low of 22,231. Experts predict the market is oversold and may bottom soon, with a possible dip below 22,000 before rebounding. Large-cap ETFs are recommended for potential gains up to 18% in six months.
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