Indian shares set for fourth day of losses
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BENGALURU - Indian shares headed for a fourth straight session of declines on Monday, with all sectors in the red as the Russia-Ukraine standoff continued to dampen risk sentiment.
The NSE Nifty 50 index fell 0.84% to 17,127.20 by 0354 GMT, while the S&P BSE Sensex was down 0.83% at 57,344.81. If losses hold, both indexes will record their fourth day of declines in a row.
Offering a measure of relief, however, U.S. President Joe Biden and Russia's Vladimir Putin agreed in principle to hold a summit on Ukraine. The news boosted Wall Street futures and helped wider Asian shares pare sharp early losses. [MKTS/GLOB]
In India, all major Nifty sub-indexes were trading in the red and 47 of the 50 stocks on the Nifty 50 index slipped early on Monday.
Shares of InterGlobe Aviation fell more than 2% after co-founder Rakesh Gangwal resigned from the board of directors of the IndiGo airline operator and said he will cut his stake slowly in the next five years.
