⁍ Indian shares edged lower on Tuesday as investors looked past the finance minister’s indication that there was room for another stimulus package.
⁍ The Nifty Bank index was on track to snap two straight sessions of gains.
⁍ Meanwhile, Asian stocks dipped after investors adjusted their risk exposure ahead of the Tuesday stimulus bill deadline set by U.S. House Speaker Nancy Pelosi.
– The Bombay Stock Exchange’s Sensitive Index fell below the 10,000 mark for the first time in two weeks on Tuesday as investors looked past India’s finance minister’s indication that there was room for another stimulus package, Reuters reports. Finance minister Nirmala Sitharaman said on Monday the ministry had started an assessment of gross domestic product growth and that it had not closed the option of another stimulus, almost a week after unveiling a package that left the market disappointed. The Nifty Bank index was on track to snap two straight sessions of gains, slipping 0.7% on losses in Bank of Baroda BOB.NS and Axis Bank AXBK.NS. Shares of Britannia Industries BRIT.NS slipped by 3.8% after the company reported quarterly revenue below estimates on Monday. Meanwhile, Asian stocks dipped after investors adjusted their risk exposure ahead of the Tuesday stimulus bill deadline set by US House Speaker Nancy Pelosi.
Source: https://www.reuters.com/article/india-stocks/nifty-sensex-edge-lower-as-banks-consumer-stocks-slip-idUSKBN2750GH