Monday blues! Sensex, Nifty decline for 3rd straight session tracking weak earnings
Sensex and Nifty50, opened lower for the third consecutive session on Monday, as concerns over weak earnings and continued foreign outflows weighed on domestic equities.
At 9:35 am, the BSE Sensex was down 34.20 points, or 0.04%, at 79,452, while the Nifty50 lost 8.80 points, or 0.04%, trading at 24,139.40.
Analysts have stated that ongoing foreign selling and earnings downgrades are likely to maintain investor caution and put continued pressure on the markets.
Foreign portfolio investors have sold Indian shares for 30 consecutive sessions, withdrawing approximately $13 billion, largely redirecting investments to China amid Beijing's stimulus measures.
From the Sensex pack, Asian Paints, Axis Bank, IndusInd Bank, Adani Ports, and Bajaj Finance opened with cuts, while Tata Motors, Power Grid, Maruti, M&M, and SBI opened with gains.
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