Indian shares sank more than 1% on Monday after Infosys tumbled 15% and sparked a selloff in IT stocks following the country's No. 2 IT services exporter's weak results and forecast.
The market's decline is expected, after the strength over the last 10 sessions and due to weak cues from global markets, said two analysts.Global equities were subdued after data showing resilient U.S. retail sales bumped up the odds of the Federal Reserve raising interest rates by 25 basis points in May.
However, the steep drop in domestic stocks was mostly restricted to large-cap companies. The Nifty midcap 100 index
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