Indian shares drop on foreign outflows and weak monsoon
The Nifty 50 and Sensex fell for a fourth straight session as foreign investors sold a record amount of shares amid Middle East tensions. Weak monsoon forecasts and high oil prices weighed on sentiment ahead of the Reserve Bank of India policy decision.
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India equity benchmarks fell 0.7% on Monday as foreign investors sold a record $2.22 billion in shares. India's Nifty 50 and Sensex indexes have dropped 2.7% and 2.9%, respectively, over four sessions. Persistent capital outflows, weak monsoon forecasts, and renewed Middle East tensions threaten to derail earnings growth for the remainder of the fiscal year.
