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IT, metals drag Indian shares; weak business data, monsoon worries weigh

From brecorder.com

Indian shares fell on Tuesday, dragged by heavyweight IT and metal stocks, while weak business activity data and concerns over a patchy monsoon triggered profit-booking in the broader market following a recent rally led by low oil prices. The Nifty 50 and Sensex fell 1.16% each to 23,824.10 and 76,200.68, respectively. Both benchmarks opened flat but slipped in afternoon trade after data showed India’s private sector growth eased to a three-month low in June. Services activity fell to a 17-month low, while manufacturing growth slowed to a three-month low. “Soft PMI readings, combined with persistent concerns over the ... (full story)

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  • Category: Fundamental Analysis