Indian stock markets remain well anchored on strong fundamentals: NSE CEO Chauhan

New Delhi, Aug 28 (PTI) Indian stock markets remain well-anchored on the strength of the country's fundamentals - a sustained high economic growth rate, robust savings pools, strong banking balance sheets, a reform-driven agenda, and a rapid wave of digitisation, NSE Managing Director and CEO Ashishkumar Chauhan said on Thursday.

Acknowledging the ongoing turbulence in equities, he noted that domestic markets are positioned to absorb global volatility while continuing to offer long-term stability and opportunity to investors.

His remarks come at a time when Indian benchmarks have been reeling under pressure, with renewed trade tensions and fresh US tariffs sparking a wave of selling.

Reflecting the impact, the 30-share BSE Sensex tanked 705.97 points to close at 80,080.57 on Thursday, while the 50-share NSE Nifty dropped 211.15 points to 24,500.90.

This follows Tuesday's sharp fall, when the Sensex lost 849.37 points and the Nifty declined 255.70 points. The additional 25 per cent tariff imposed by the US on Indian goods, which came into effect on Wednesday, has doubled the levies on New Delhi to 50 per cent, further unsettling investor sentiment.

Despite these headwinds, the Chief Executive Officer (CEO) emphasised that India's capital markets have once again demonstrated remarkable resilience.

Despite heightened geopolitical uncertainties, tightening monetary cycles worldwide, and volatile commodity prices, Indian stock markets remain well-anchored on the strength of our nation's fundamentals: a sustained high economic growth rate, one of the world's highest savings pools, strong and well-capitalised banking balance sheets, a decisive structural reform agenda, and a rapid wave of digitisation that is deepening financial participation across households and institutions alike," he said in a statement.

Over the past three decades, India has not only weathered but emerged stronger from crises such as the Asian financial turmoil of the 1990s, the aftermath of 9/11, the global financial crisis of 2008, and the COVID-19 pandemic. Each challenge, he noted, has resulted in deeper reforms, stronger institutions, and greater investor confidence.

Looking ahead, Chauhan stressed that as domestic demand expands and technological innovation reshapes key sectors, Indian markets are well-positioned to absorb global volatility while ensuring long-term opportunities for investors.

"This resilience, underpinned by prudent regulation and strong governance, ensures that India is not just navigating turbulence, but steadily advancing towards its vision of Viksit Bharat 2047, as a leading global economic and financial powerhouse," he said.

Echoing a similar sentiment, BSE MD & CEO Sundararaman Ramamurthy also highlighted that India has successfully weathered past global shocks from COVID-19 to supply chain disruptions and continues to stand resilient as the world's fourth-largest economy. PTI SP SHW