Equity markets witness significant fall

Domestic equity markets experienced a significant decline just before closing on Wednesday. This decline follows steady headline inflation data and a slight decrease in industrial output. The midcap index dropped below 46,000 points, with realty and banking stocks bearing the brunt. The rupee closed at 82.26 against the US dollar. Adani Group stocks plunged amidst the market downturn, with the Sensex plummeting by 756 points and the Nifty50 index hitting an intraday low of 22,040. Smallcap and midcap indices saw their largest fall in 2024, with both segments dropping nearly 5% on March 13. Foreign investors are cashing out due to low valuations, preferring less volatile global investments.