Market Reality Check: How Rising Costs and Slowing Demand Are Weighing Down India’s Nifty 50
Exploring the Key Drivers Behind Nifty’s 8% Correction – From Inflation Pressures to Global Demand Slowdown
India’s Nifty 50 has now corrected about 8% from its all-time high hit on 27th September 2024. The trigger for this correction has primarily been the market’s recognition that the September quarter is likely to post very weak results. And that has been true.
As of Nov 1st, 2024 (today), about 969 companies have declared results and their cumulative revenue growth has only been about 8.9% year-on-year -- as you may notice in the Excel worksheet below (download link at the end of the article). Their profit growth has been negative 2.4%. In other words, the profit has declined this quarter.
Download the Excel here: