Mumbai, Nov 8 || Indian equity benchmarks continued their decline for the second week, due to ongoing selling by the foreign institutional investors (FIIs) despite indications of a strengthening domestic economy.
Benchmark indices Nifty and Sensex dipped 0.71 and 1.65 per cent during the week to close at 25,492 and 83,216, respectively.
Fading expectations of a Fed rate cut also contributed to cautious investor sentiment amid mixed global cues and sectoral weakness in IT and metals led to the decline
"Select sectors found support from upbeat Q2 earnings, with PSU banks remaining in focus due to robust financial performance, improving asset quality, and renewed speculation regarding a potential FDI cap hike and sector consolidation," said Vinod Nair, Head of Research, Geojit Investments Limited.