India’s stocks plummeted on Monday dragged by technology and steel stocks, while the attitude of global investors turned cautious ahead of key US economic growth data and central bank-level decisions in Europe and India this week.
The NSE Nifty 50 (.NSEI) index fell 0.65% to 16,475.65, from 0404 GMT, while the S&P BSE Sensex fell 0.68% to 55,384.47.Both indicators saw a volatile movement last week, but have closed their third consecutive week of development with gains of about 1.5% each. This week, investors in India are awaiting the outcome of a meeting of the Monetary Policy Committee and the Bank of India was expected to follow up on a random reprieve rate hike in May with another move at its June 8 policy meeting.
On Monday, shares on all boards were lost – technical shares declined by almost 2%, while stock shares (.NIFTYMET) declined by 1.5% sharply from May 31st.Meanwhile, broad Asian markets strengthened as the future of U.S. stocks. benefits from caution before U.S. inflation data later in the week, while the euro hit seven years on the yen during a European Central Bank bet.
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