FX.co ★ India Shares Break Two-Day Winning Streak

On Monday, the BSE Sensex decreased by 229 points, equivalent to a 0.3% drop, settling at 85,484 during early trading. This decline wiped out the gains made in the previous two sessions, as traders adopted a cautious stance in anticipation of the Federal Reserve's upcoming monetary policy announcement this week. The recent increase in the index, influenced by the Reserve Bank of India's decision to reduce interest rates and enhance liquidity within the banking sector, prompted some traders to seize profits. Furthermore, investors prepared for a busy week dominated by initial public offering (IPO) activities. Most sectors experienced downturns, including automobiles, metals, banking, and financial services. Similarly, the Nifty 50 declined by 0.3%, while mid-cap and small-cap stocks fell by 0.5% and 0.8%, respectively. Among the most notable decliners were JSW Steel, which lost 1.9%; Bajaj Finance, decreasing by 1.8%; Bajaj Finserv, down 1.5%; Nestle India, falling by 1.1%; and Adani Ports, which dropped 1.0%. Concurrently, InterGlobe Aviation saw a significant downturn, sliding 5.4% after facing a regulatory warning regarding a large number of flight cancellations in the previous week.