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Selling pressure continues in market, but why?

The BSE Sensex is falling over 150 points, and the NSE Nifty is decreasing below the 10,900 marks.

The 30-share barometer finally ended at 36,395.03, down 151.45 points.

The 50-scrip NSE Nifty finished 49.80 points, after touching a low of 10,857.10 and a high of 10,930.90 during the meeting.

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Indian equities extended their fall for another session on Monday. Despite a rebound in global stocks, the selling pressure continued in the market. The BSE Sensex is falling over 150 points, and the NSE Nifty is decreasing below the 10,900 marks. According to the brokers, auto sector stocks were the centre of nervous selling. They are triggered by dismal quarterly earnings posted by leading automakers.

The 30-share barometer finally ended at 36,395.03, down 151.45 points. Approximately 429 positions were lost by the gauge in the previous two sessions. The 50-scrip NSE Nifty finished 49.80 points, after touching a low of 10,857.10 and a high of 10,930.90 during the meeting.

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According to Vinod Nair who is the Head of Research in Geojit Financial Services, selling pressure continued in the market despite a rebound in the global market as investors turned risk-averse due to the upcoming election.