Why share market is struggling? All you need to know
India Today
The NSE Nifty 50 index was down by 0.68 at 17,397.75, while the S&P BSE Sensex slipped by 0.64 per cent to 58,271.43. The indexes were headed for their third straight session of losses.
The share market on Monday fell, weighed down by losses in stocks of private-sector lenders and automakers, while Public Sector Banks pushed higher after a batch of strong quarterly results.
The NSE Nifty 50 index was down by 0.68 at 17,397.75, while the S&P BSE Sensex slipped by 0.64 per cent to 58,271.43. The indexes were headed for their third straight session of losses.
STRONG RESULTS
"Results have been very good so far, there is no problem on that front," said AK Prabhakar, head of research at IDBI Capital in Mumbai, adding that the banking sector was showing signs of recovery, Reuters reported.
Out of the 36 Nifty 50 companies that have reported earnings so far, 20 have beat analysts' estimates by an average 11.7 per cent, Refinitiv data showed.
WHERE IS THE PROBLEM?
"The problem is with elevated crude prices, rising interest rates and bond yields," Prabhakar said. "(The) spike in bond yields in Europe is an alarm for India."
