Nifty drops below 22,700 level; pharma shares decline
Mumbai, Oct. 14 -- The key equity benchmarks continued to trade with minor losses in morning trade, weighed down by elevated crude oil prices and weak global cues. The negative sentiment overshadowed the support from easing bond yields and a strengthening rupee. Investors remained focused on September-quarter corporate earnings, while the Nifty 50 slipped below the 22,700 mark.
Elevated crude oil prices remained a key concern for equity investors, particularly given their potential implications for inflation, corporate input costs and India's import bill. Market participants will closely monitor global developments, foreign institutional investor (FII) flows, key US inflation data and upcoming corporate earnings announcements for further...
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