Nifty Extends Losing Streak To Day 5 But Manages To Hold 9,500
Indian shares declined the most in over a month as investors booked profits ahead of the anticipated disruption that may be caused after the rollout of an unified tax regime later this week.
The S&P BSE Sensex fell little over 0.5 percent to 30,962 – its lowest level since May 29 of this year. The NSE Nifty closed 0.7 percent lower at 9,510, extending its losing streak to a fifth straight session. This after the 51-share index fell 1 percent to 9,473 – its lowest since May 25, 2017.
The market breadth was firmly tilted in favour of the bears. About 1,189 stocks declined and only 303 advanced on the NSE.
Grasim, Aditya Birla Nuvo Buck The Weak Market Trend
Shares of Aditya Birla Nuvo Ltd. and Grasim Industries Ltd. rose over 3.5 percent, on a day when the Nifty dropped most in a month, ahead of a restructuring exercise that would tighten billionaire Kumar Mangalam Birla's grip of a business empire with more than $40 billion in annual revenue.
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