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However, Vijayakumar cautions that the elevated valuations are still a concern. If the US growth concerns impact global equity markets in the coming days, FPIs are likely to use the opportunity to buy in India.
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The volatility spiked as well; the volatility barometer India VIX surged by 13.63% to 15.22 on a weekly basis. While setting a distinct corrective undertone, the headline index closed with a net weekly loss of 383.75 points (-1.52%)
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The 50 component index Nifty 50 as well Sensex closed nearly 1.2% lower today. The former closed 293 points lower at 24,852 while the latter dipped by 1,017 points to 81,184.
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News and Media
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