Markets pause after posting their longest winning streak in three years

Take a breath after weeks of gains, focusing on selective value stocks amidst profit-taking

Indian equity markets took a breather on Monday amid profit taking after ending the last seven weeks with gains, the longest such winning streak in three years. However, the action was seen in select counters. The S&P BSE Sensex on Monday ended the session at 71,315, a decline of 169 points, or 0.2 per cent. The National Stock Exchange Nifty declined by 38 points, or 0.2 per cent, to end the session at 21,419.

Investors on Monday were mostly chasing stocks that offer some value vis-à-vis their peers. The stock of Indian Railway Catering and Tourism Corporation (IRCTC) rose by