Nifty, Sensex slip after weak corporate results, gloomy IMF forecast

(Reuters) – Indian shares fell for a second straight day on Tuesday following a slew of weak earnings from top companies and as the International Monetary Fund (IMF) cut its growth forecast for Asia’s third-largest economy.

The NSE Nifty 50 index .NSEI slipped 0.24% to 12,194.75 by 0408 GMT, while the S&P BSE Sensex .BSESN also fell 0.24% to 41,428.73.

Other Asian equities were also subdued as growing concerns about a new strain of coronavirus in China weighed on risk appetite.

India’s corporate earnings season had a dull start, with poorly-received December-quarter results for marquee names such as Reliance Industries Ltd (RELI.NS) and Tata Consultancy Services Ltd (TCS.NS) weighing on markets on Monday.

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