Global Markets
Home›Global Markets›Asia›Indian stocks track an eight-session slide, with focus…
Indian stocks track an eight-session slide, with focus on Monday
The Nifty 50 could fall for a ninth straight week if selling persists, a run last seen for about 25 years.
India’s Nifty 50, along with Sensex and Bank Nifty, has been trading lower for eight straight sessions, with the drop linked by LiveMint Markets to ongoing selling by foreign institutional investors and weak micro and macro indicators.
LiveMint Markets notes that if the losing trend continues next week, the Nifty 50 could end lower for a ninth successive week, a streak that would come after a gap of about 25 years.
Heading into Monday’s opening bell, the article says market participants are looking for potential support from IT stocks, with expectations of strong buying following Accenture’s better-than-expected results.
It also highlights anticipated demand in shares of HDFC Bank and Kotak Mahindra Bank after the appointment of new managing directors and CEOs, while pointing to uncertainty over whether that would be enough to lift the Sensex, Nifty 50, and Bank Nifty at the open.
Latest closeSensex 71,909.70 ▼0.8%