As of mid-day trading, the Nifty 50 index has declined by 0.82%, standing at 23,686.70, while the BSE Sensex has dropped by 0.65%, at 78,162.91.
This downturn comes amid cautious market sentiment, with data indicating a slowdown in new SIP account additions for the third consecutive month in October.
The SIP stoppage ratio has also reached a five-month high, suggesting that domestic retail investors may be pulling back amid market volatility. Despite this, open-ended equity funds have continued to see positive inflows, reaching a record ₹41,887 crore in October, largely due to the launch of 29 new schemes.
Adding to the concerns, foreign institutional investors have offloaded nearly ₹1.50 lakh crore over 32 trading days, a selling trend that has put additional pressure on the markets. However, domestic inflows have managed to absorb some of this pressure, although the slower SIP additions raise questions about the sustainability of this support.
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