85. The decline was anchored by a stronger US dollar, rising global bond yields and softer Chinese manufacturing data, which together dampened risk appetite among foreign portfolio investors. Market strategists expect the downward bias to linger into Friday, as the US Federal Reserve’s hawkish tone continues to push yields higher and the RBI’s monetary stance remains unchanged.
While domestic macro data are yet to be released, a modest improvement in corporate earnings from the IT and pharma sectors could provide limited support, but overall volatility is likely to stay elevated. For the average Indian retail investor, the key takeaway is to avoid chasing short‑term rebounds and to focus on portfolio resilience. Defensive stocks such as FMCG, utilities and dividend‑paying banks tend to hold up better when global cues turn sour.
Rebalancing a small portion of equity exposure into these sectors, or adding a modest allocation to liquid debt funds, can help smooth out near‑term fluctuations. Staying disciplined, reviewing risk tolerance and keeping a long‑term horizon remain the safest bets as the market navigates global uncertainties and domestic policy signals.