Sensex, Nifty close in red for 7th straight session on weak global trends

Analysts said investors are grappling with central bank policies that may remain hawkish for longer than what was priced in by markets

Indian equity benchmarks, on Monday, fell for the seventh consecutive session amidst weakness in the IT majors and fears about rate hikes by major central banks.

This is the longest losing streak for the Sensex since September 2022. The index fell as much as 537 points before it recouped some of its losses to end the session at 59,288, down 175 points or 0.3 per cent. The Nifty, on the other hand, ended the session at 17,392 a decline of 73 points, or 0.4 per cent. Nifty had slipped below its 200-day moving average  in intraday trade but managed to