In Charts: Nifty Erases 2019 Gains With Today’s 200-Point Drop
The National Stock Exchange building in Bandra Kurla Complex, Mumbai. (Photo: BloombergQuint)

In Charts: Nifty Erases 2019 Gains With Today’s 200-Point Drop

The NSE Nifty Index fell for the second-straight session today—wiping out its gains for 2019—on the back of a selloff sparked by geopolitical tensions surrounding oil supplies from Saudi Arabia and slowing economic growth.

With the 50-stock benchmark falling nearly 200 points today, it has declined nearly 0.4 percent so far this year.

In Charts: Nifty Erases 2019 Gains With Today’s 200-Point Drop
In Charts: Nifty Erases 2019 Gains With Today’s 200-Point Drop
In Charts: Nifty Erases 2019 Gains With Today’s 200-Point Drop

In dollar terms, the Nifty is the only index along with the South Korean benchmark Kospi to deliver negative returns for investors in 2019. 27 out of the Nifty’s 50 stocks declined led by ITC Ltd., Mahindra & Mahindra Ltd., Yes Bank Ltd. and Maruti Suzuki India Ltd.

Weak corporate earnings growth and persistent selling by foreign institutional investors added further pressure on the Indian equity markets.

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