The Indian stock market faced continued pressure on Tuesday, May 28, with both the Sensex and the Nifty 50 closing in the red for the third consecutive session.
This month, the stock market has experienced significant volatility, mainly due to high foreign capital outflow driven by caution surrounding the ongoing Lok Sabha election. The market has been fluctuating between gains and losses, influenced by factors such as high valuations and mixed global cues.
The India VIX, which measures market volatility, has surged by 88% so far in May, reflecting increased nervousness among investors. On Tuesday, May 28, the India VIX rose by over 4% to reach the 24.20 level.
The Nifty 50 index closed 44 points, or 0.19%, lower at 22,888.15, while the Sensex ended the day with a loss of 220 points, or 0.29%, at 75,170.45.
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