Indian shares started the week on a tepid observe on Monday, dragged by steel shares resulting from demand worries and weaker sentiment in international markets.
The NSE Nifty 50 index was down 0.3% at 15,704, whereas the S&P BSE Sensex was unchanged at 52,930.86. The indexes rose about 0.3% every final week.
The Nifty metals index fell 1.2% as iron ore and metal costs tumbled on fears of a droop in demand for commodities.
The federal government’s transfer to introduce export duties for gasoil, gasoline and jet gasoline to assist preserve home provides, and impose a windfall tax on oil producers on Friday additionally had an overhang on Indian markets.
In the meantime, Asian share markets began cautiously on Monday as a run of soppy U.S. information urged draw back dangers for this week’s June payrolls report, whereas the hubbub over doable recession was nonetheless driving a aid rally in authorities bonds. [MKTS/GLOB]
Markets in the USA are closed for a vacation on Monday.
Amongst particular person shares, grocery store chain operator Avenue Supermarts rose 4.2% after the corporate reported sturdy gross sales for the primary quarter on Saturday.
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