India's shares fell on Monday, dragged down by information technology and energy companies, amid worsening COVID-19 infection numbers in China and likelihood of a tighter U.S. monetary policy.
Markets were pressured by the COVID situation China, Anita Gandhi, director at Arihant Capital Markets said, adding although foreign investor inflows were positive, domestic institutions were taking profit.
"With the results season over, markets are focusing on valuation. We are a bit expensive compared to global as well as Asian peers," Gandhi said. Foreign investors had purchased a net $3.71 billion worth of equities so far this month as of last week, compared with marginal withdrawals worth $0.52 million in October, Refinitiv data showed.
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