Mumbai, Feb. 25 -- On a day when trading volumes were low, the Indian markets continued their downward spiral for the fifth straight session with benchmark indices sliding more than 1% each to their respective eight-month lows, wiping out a staggering Rs.4,34,579 crore in investor wealth on Monday.
Total turnover on NSE-at Rs.71,947.32 crore-was its lowest in nearly four months. Experts say in such situations, it takes less effort to move the market, making price swings more exaggerated.
At the same time, foreign investors also continued to pull out monies. On Monday, foreign institutional investors (FIIs) offloaded a net Rs.6,286.70 crore, while domestic institutional investors (DIIs) stepped in with net purchases of Rs.5,185.66 crore.
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