Indian stocks fall out of bull territory ahead of earnings season

The Sensex declined 1 per cent to end at 30,379.81 after rising as much as 2.9%, while the Nifty dropped 0.8% to close at 8,925, after rising to 9,261

Indian stocks fell on Wednesday, with the benchmark indices retreating from a level indicating bull territory, ahead of the earnings season that could give some insight into the outlook for companies under lockdown. The Sensex declined 1 per cent to end at 30,379.81 after rising as much as 2.9 per cent, while the Nifty dropped 0.8 per cent to close at 8,925, after rising to 9,261. Earlier in the day, both gauges had risen to levels representing a rebound of more than 20 per cent from their March 23 lows, an increase seen as a technical bull market.

Markets were