Sensex Finishes on Lower Note
India’s BSE Sensex deepened losses to close about 1.1% down at 73,853 on Monday, halting a two-day winning streak, as investors weighed fresh corporate earnings amid persistently high oil prices. Selling was broad-based, with private-sector lenders Axis Bank and HDFC Bank dropping 3.9% and 2.3%, respectively, after reporting disappointing quarterly earnings. IT stocks such as Infosys (-2.7%) and Tech Mahindra (-0.6%) also witnessed significant declines. UltraTech Cement slipped 2.8% after the company posted quarterly profit below analyst estimates, alongside announcing major leadership changes at the board level.
India’s BSE Sensex deepened losses to close about 1.1% down at 73,853 on Monday, halting a two-day winning streak, as investors weighed fresh corporate earnings amid persistently high oil prices. Selling was broad-based, with private-sector lenders Axis Bank and HDFC Bank dropping 3.9% and 2.3%, respectively, after reporting disappointing quarterly earnings. IT stocks such as Infosys (-2.7%) and Tech Mahindra (-0.6%) also witnessed significant declines. UltraTech Cement slipped 2.8% after the company posted quarterly profit below analyst estimates, alongside announcing major leadership changes at the board level.