Indian Equities Extend Losing Streak on Monday as Global Cues Weigh
Indian benchmark indices fell for a third straight session on Monday as broad-based selling pressure and weak global cues dragged the market lower.The BSE Sensex dropped 1,312.91 points, or 1.7%, to close at 76,015.28, while the NSE Nifty 50 declined 360.30 points, or 1.5%, to settle at 23,815.85.Sentiment weakened amid fading hopes of U.S.-Iran talks, after the U.S. reportedly rejected Iran's peace proposal. Rising uncertainty around the West Asia conflict and its impact on global growth concerns kept investors cautious.A sharp rebound in crude oil prices moved Brent crude back above $105 per barrel as supply risks through the Strait of Hormuz persisted.In corporate developments, Canara Bank (NSE:CANBK, BOM:532483) fell nearly 4% after reporting a decline in consolidated profit in the fiscal fourth quarter to 45.7 billion rupees from 50.7 billion rupees a year earlier. Earnings per share slipped to 5.04 rupees from 5.59 rupees, even as interest income edged higher.Bajaj Electricals (NSE:BAJAJELEC, BOM:500031) also fell over 2% after appointing Ashween Anand as chief financial officer, effective May 14, according to a filing. Anand joins from Tata Starbucks, where he previously served as CFO.