Indian Stock Market Faces Longest Losing Streak Since January

Deep News13:00

The Indian stock market declined, weighed down by broad weakness across Asian markets and dampened risk sentiment due to a lack of progress in US-Iran peace talks.

The Nifty 50 index on India's National Stock Exchange fell 0.4%, heading for its fifth consecutive daily loss, marking its longest losing streak since early January.

HDFC Bank Ltd and ICICI Bank Ltd led the market lower, with both stocks falling approximately 1.1%.

Among the 50 index constituents, only 10 stocks advanced while 40 declined.

In a counter-trend move, India's Information Technology sector, which has been under pressure this year due to shifts in the artificial intelligence industry, continued its recent rebound.

The sectoral index surged over 3.5%, narrowing its year-to-date decline to around 18%.

In contrast, the benchmark Nifty index has fallen nearly 11% so far this year.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment