Driven by weak global cues, tepid earnings and unabatedselling by FIIs
Equities fell for the third consecutive session on Monday asinvestors remained jittery amid weak corporate numbers and unabated selling byforeign institutional investors (FIIs). A fall in most global markets alsoacted as a catalyst.
The losses in the Indian stock market were led by financialsafter HDFC Bank on Friday reported a 21% rise in net profit but also said thatretail loan growth slowed and the gross non-performing asset ratio moved up.The 30-share Sensex lost 305.88 points or 0.8% to close at 38,031.13. In thelast three trading sessions, the index has lost a total of nearly 1,200 points.HDFC was the biggest loser in the Sensex pack, shedding more than 5%, followedby HDFC Bank, which lost 3.32%. Stocks such as Kotak Mahindra Bank, State Bankof India, Bajaj Finance, ITC and HUL also contributed to the Sensex losses onMonday. HUL will be reporting its quarterly numbers on Tuesday.