2 weeks ago

Indian equities extend losing streak to fifth day

Indian equities extend losing streak to fifth day
Equities extend losing streak to 5th day as bearish sentiment persists · thehansindia.com

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.

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

Sources

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