BackMarkets falter; earnings, monsoon in focus
Markets falter; earnings, monsoon in focus
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Mumbai: The BSE Sensex extends fall to 0.8%, while the 50-shares NSE index loses 0.9%, tracking falls in Asian and European indexes which fell on growth concerns in China and the United States.
The Indian rupee also fell to an over one-week low on Monday, dragged by weakness in the euro after US jobs data showed tepid growth.
A shortfall in India’s monsoon rains has widened to nearly 50% of average, and a deficient monsoon could prolong the current policy inaction and delay stalled economic reforms.
Corporate earnings will in focus this week. HDFC Corp down 1.66% ahead of earnings due Wednesday.
HDFC Bank down 2.1% while ICICI Bank loses 0.45%.
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