Indices decline over 1% amid Covid-19 surge and foreign inflow concerns

Indian benchmarks experienced a decline of over 1% on Tuesday, driven by uncertainty regarding near-term market prospects and profit-booking after a recent rally. Ebbing foreign inflows and a surge in Covid-19 cases across India and Asia further contributed to the cautious market sentiment. Traders are also adding short positions, suggesting limited upside potential in the near future.

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