Markets crash on heavy FPI selling
April 19, 2021
Sensex falls 882 pts; Nifty dips 1.7% to test recent lows, but doesn’t break
Even as the global markets remained stable, heavy selling by foreign portfolio investors (FPIs) in the cash and derivative segments led to a sharp fall in Sensex and Nifty on Monday. For the third time in nearly a fortnight, the Nifty index tested the recent low of 14,250 but did not break.
Although investor sentiment is at its nadir, experts say that since Nifty’s third attempt to break the recent low decisively was unsuccessful on Monday, a reversal in trend could be in the offing if the index sustains at current levels.
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