Nifty is on track to experience back-to-back monthly losses for the first time since early 2023, following a significant decline in recent gains.

At the start of trading, Nifty futures indicate slight increases; however, the weakness in Asian and US markets suggests that domestic equities may face further losses.

Foreign funds are pulling out of bonds, which could put additional pressure on the rupee in the near future. While this situation may offer some slight advantages to IT companies, it raises concerns for the overall economy.

Market participants are advised to exercise caution in this environment where selling on rallies is prevalent.