Indian shares fell for the third consecutive session on Monday, weighed down by index heavyweight Reliance Industries Ltd as macro concerns, including higher crude prices and liquidity crunch, hurt the trading sentiment. While the benchmark BSE index closed down 0.53 percent at 34,134.38, the broader NSE index ended 0.57 percent lower at 10,245.25.
Reliance Industries was the top drag on the index, ending down 3.5 percent. Indian markets have been battered by a series of issues, including higher crude prices, depreciating rupee and recent defaults at a major non-banking financial company (NBFC). Liquidity has also been facing a crunch, adding to woes.
Nifty Financial Services index rose as much as 1.6 percent, after falling for the previous two sessions. Higher oil prices pulled down some oil and gas companies' stocks. Bharat Petroleum Corp and Indian Oil Corp fell 3.6 percent and 2.1 percent, respectively. Jet Airways and InterGlobe Aviation Ltd also dropped.
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