Nifty 50 index heads for technical correction amid global turmoil

India’s benchmark NSE Nifty 50 Index headed for a technical correction amid the global selloff triggered by rising concerns about the health of Swiss lender Credit Suisse Group AG.
 

The gauge slipped as much as 0.5% Thursday, bringing losses from an all-time high in early December to over 10%. The S&P BSE Sensex Index fell as much as 0.4%. Rising interest rates, coupled with this year’s rout in the Adani conglomerate’s stocks, have also weighed on the local market.

Since hitting record peaks on Dec. 1, both the Nifty and Sensex gauges have been on a slide as a series