2 weeks ago
Indian equities extend losing streak to fifth day
The stock market in India had a tough day on Monday.
The main stock indexes, called the Sensex and the Nifty, went down for the fifth day in a row.
This means many people who own shares in companies lost a little bit of money.
One reason is that the price of oil is high, which makes things more expensive.
Another reason is that there is tension between countries in West Asia, and people are worried about a place called the Strait of Hormuz where oil ships travel.
Some big companies like Infosys and Tata Consultancy Services saw their shares drop.
But some other companies, like Tata Steel and Reliance Industries, actually made money.
There was also news that a big meeting for the Tata Group might not happen because of a rule from a government official.
Overall, investors were careful and did not want to take big risks.
The BSE Sensex fell 281.09 points, or 0.36 per cent, to settle at 77,728.16 on Monday.
The NSE Nifty declined 78.35 points, or 0.32 per cent, to end at 24,287.65, its fifth straight session of losses.
Selling was seen in IT, FMCG, and telecom shares amid rising crude oil prices and geopolitical tensions in West Asia.
Infosys, HCL Tech, Sun Pharma, TCS, Tech Mahindra, and ITC were among the biggest laggards, while Tata Steel, Axis Bank, Reliance Industries, and Bharat Electronics gained.
Tata Group stocks fell amid reports that the Tata Sons annual general meeting scheduled for August 18 may not take place due to a regulatory restriction imposed by Maharashtra's Charity Commissioner.
Foreign institutional investors (FIIs) bought equities worth Rs 508.12 crore.
- Who
- Indian equity investors and companies including Infosys, HCL Tech, TCS, Tata Steel, Axis Bank, and Reliance Industries.
- What
- Indian equity markets extended their losing streak to a fifth consecutive session, with the Sensex and Nifty closing lower.
- Where
- Indian equity markets, reported from Mumbai.
- When
- Monday, with the Tata Sons annual general meeting reportedly scheduled for August 18.
- Why
- Elevated crude oil prices, persistent geopolitical tensions in West Asia, and uncertainty surrounding the US-Iran conflict and the Strait of Hormuz weighed on investor sentiment.
Key facts
- Sensex close
- 77,728.16, down 281.09 points (-0.36%)
- Nifty close
- 24,287.65, down 78.35 points (-0.32%)
- Losing streak
- Fifth consecutive session
- Intraday Sensex low
- 77,453.75, down 555.5 points (-0.71%)
- Worst-performing sector
- IT, down 1.74%
- Best-performing sector
- Realty, up 1.38%
- FII activity
- Bought equities worth Rs 508.12 crore
- Key market concern
- US-Iran conflict and lack of progress on reopening the Strait of Hormuz
Quotes
Ponmudi R
CEO of Enrich Money, an online trading and wealth tech firm
“"Indian equity markets ended marginally lower on Monday, extending last week’s cautious tone as persistent uncertainty surrounding the US-Iran conflict and the absence of meaningful progress toward reopening the Strait of Hormuz kept investors on the sidelines,"”
thehansindia.com








