Stock markets seem to be in a free fall. There has been nohappiness this week for an investor in Indian stock exchanges except for therecovery seen yesterday. At the time of writing, index NIFTY 50 is down about1%, while NIFTY MIDCAP 50, and NIFTY SMALLCAP 50 are down about 0.5%.
Understandably, the fear index of India, INDIA VIX is up. Theindex is up by 3.3%.
Sector-wise too, there is nothing much to write home about.Automobiles stocks are barely holding in the green with pharmaceuticals stocks theleast in red.
The various sectors of the economy seem to be in a race todecline. Banking, financial services, and realty stocks are leading the declinewith their indices down 1.87%, 1.93%, and 1.38% respectively.