New Delhi, July 29 -- The Indian stock market is under significant selling pressure, with the benchmark Nifty 50 down nearly 1 per cent over the past year on concerns over an elusive India-US trade deal, unimpressive earnings, and sustained foreign capital outflow.

While the index is still up about 4 per cent year-to-date, on a monthly scale, it has lost over 3 per cent in July so far, looking set to snap its four-month winning streak.

On July 26, the Nifty 50 hit an intraday low of 24,598.60, extending losses to the fourth consecutive session. Meanwhile, the index hit its 52-week low of 21,743.65 on April 7 this year after hitting a record high of 26,277.35 on September 27 last year.

After hitting a record high in September, the Nifty...