Share markets in India continued to witness selling pressure during closing hours and ended their trading session on a negative note. Sectoral indices ended on a negative note with stocks in the IT sector and energy sector witnessing most of the selling pressure.

At the closing bell, the BSE Sensex stood lower by 274 points (down 0.8%) and the NSE Nifty closed down by 56 points (down 0.5%). The BSE Mid Cap index ended the day up 0.6%, while the BSE Small Cap index ended the day up 0.1%.

The rupee was trading at 71.29 against the US$.

Asian stock markets finished on a mixed note. As of the most recent closing prices, the Hang Seng was up by 0.5% and the Shanghai Composite was up by 0.2%. The Nikkei 225 was down 0.4%.

Note that while the markets are witnessing a correction lately, the SIP flows into Indian stock markets are on the rise. Have a look at the chart below. It plots the month SIP contributions over the 31-month period between April 2016 and October 2018.

SIPs Continue to Rise Despite Market Correction

During the above period, SIP contributions have grown from Rs 3,122 crore in April 2016 to Rs 7,985 crore in October 2018, growing at compounded annual rate of 46%.

Currently, there are about 2.49 crore SIP accounts through which investors regularly invest in various Indian mutual fund schemes. As per AMFI data, the mutual fund industry added an average of about 10.05 lakh SIP accounts each month during the financial year 2018-19, with an average SIP size of about Rs 3,200 per SIP account.

If the trend in SIP inflows remains steady, it will provide the much-needed buoyancy to the Indian markets which have been witnessing an exodus of foreign investors.

In the news from the aviation sector, Jet Airways share price was in focus today. The stock of the company witnessed buying interest today on the back of falling crude oil prices and also after the company said it is in talks to secure sustainable financing for its operations and growth.