MUMBAI: India’s equity benchmarks inched lower for a third consecutive session on Wednesday as sentiment remained subdued amid concerns over foreign outflows and rupee depreciation, with no clarity regarding an India-US trade deal.
The Nifty 50 fell 0.16 percent to 25,818.55, and the BSE Sensex lost 0.14 percent to 84,559.65. They are down about 0.9 percent in three sessions.
Eleven of the 16 major sectors fell on the day. The broader mid-caps and small-caps lost 0.5 percent and 0.7 percent, respectively.
“The market is likely to trade in a tight range and struggle for further upside unless something changes dramatically with regard to either a potential trade deal between India and US or constant foreign outflows,” said UR Bhat, co-founder of Alphaniti Fintech.
Foreign investors have sold Indian equities worth 130.5 billion rupees (USD1.44 billion) in eight sessions till Tuesday. They have offloaded USD1.92 billion so far in December.
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