India shares open lower as foreign outflows dent risk sentiment
INDA•Indian shares opened lower, with the Nifty 50 down 0.34% and the Sensex down 0.4%, as foreign fund outflows weighed on sentiment. Both indexes were headed for an eighth consecutive weekly decline, while Brent crude slipped to around $98 a barrel.
1. Shares open lower
The Nifty 50 fell 0.34% to 22,543.7 and the BSE Sensex declined 0.4% to 72,192.89 as of 9:15 a.m. IST. Both benchmarks were headed for an eighth consecutive weekly decline, their longest such streak in 25 years. Indian markets will be closed Friday for a local holiday.
2. Foreign selling continues
Foreign investors sold Indian shares worth 101.48 billion rupees ($1.06 billion) on Wednesday, according to provisional data. They sold about $3.6 billion over the previous five sessions, bringing year-to-date selling to $27.8 billion. Brent crude slipped to around $98 a barrel after Tehran said it had received Washington's response to its latest ceasefire proposal; days earlier, U.S. President Donald Trump said he had rejected it.
