By Malvika Gurung
Investing.com -- With bears continuing to grip the domestic market, Indian equity benchmark indices slid for the third consecutive session, ending lower on Monday, ahead of the RBI MPC outcome scheduled on Thursday, and amid a volatile session, marked by broad-based sell-offs.
Investors on Dalal Street lost wealth worth Rs 2.9 lakh crore on Monday and Rs 6.7 lakh crore over the past three sessions.
Due to rising inflation, fears of aggressive policy tightening by the Fed loomed, and foreign investors continued to sell off. Market experts foresee FPI outflows to continue in emerging markets like India, in the short term.
Today’s market slump was majorly led by sharp foreign outflows. According to provisional exchange data, FIIs have by far in 2022, sold domestic shares worth Rs 36,930 crore.
All sectoral indices, except Nifty PSU Bank , ended in red, led by Nifty Financial Services , as HDFC Bank (NS: HDBK ) and HDFC Asset Management Company (NS: HDFA ) were the top laggers. Nifty Bank fell over 2% on Monday.
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