- India’s FX reserves dipped, snapping the longest rising streak in over five years.
- RBI intervention in the currency market puts further pressure on reserves.
- Foreign funds kept selling Indian shares in September, pushing the Nifty 50 to a sixth straight weekly decline.
- The Nifty 50 is approaching a key level after retreating six straight weeks, matching a stretch last seen in April.
Quotes
“RBI interventions in the currency market could put further pressure on reserves.”
“Good morning... I’m Pratigya Vajpayee in New Delhi, and stock bulls will be hoping the Nifty 50 can finally break its losing spell this week.”
“As foreign funds keep selling Indian shares in September, the equity benchmark has retreated for six straight weeks, matching a stretch of declines last seen in April.”