India stocks drift sideways after week of hitting multiple highs

Mumbai: India stocks struggled for direction on Monday as investors weigh the potential impact of continued nationwide protests, after a week in which the benchmark index closed at a record high four times.

The BSE Sensex fell 0.1 per cent to 41,642.66 at the 3:30pm close in Mumbai. The NSE Nifty 50 Index also dropped 0.1 per cent.

Equity investors have until now largely shrugged off protests against a law that makes religion a criterion for citizenship. But as protests wear on and the death toll climbs, worries are building over the impact they may have at a time when the economy is slowing.

“If political disturbances continue, it would be a downside worry as the protests could start to affect aggregate demand,” said Chokkalingam G, head of Equinomics Research & Advisory Pvt.