India’s benchmark index fell for a fifth straight sess on Monday, with Asian shares and currencies mixed as concerns about China’s ability to adapt after abandoning its zero-virus policy dampened risk appetite.

The 30-share BSE Sensex fell 31.3 points to 59,813.99, while the broader NSE Nifty-50 opened lower amid cautious trading and reduced liquidity, with many markets closed for holidays.

Stocks on Wall Street closed higher on Friday as investors analysed data showing that US inflation continued to decline and the Federal Reserve’s interest rate hike had the expected effect.

Asian markets benefited somewhat, but the S&P 500 and the tech-heavy Nasdaq 100 still posted their third straight weekly losses.

2022 is the worst year for global stock markets in more than a decade. After two years of a liquidity-fuelled bull market, global stock markets face several moments of reckoning in 2022 as a catastrophe engulfs financial markets worldwide, Russia marches into Ukraine, and the Federal Reserve goes all out to fight inflation.

The Sensex has outperformed its peers in a tough year, with domestic investors backing the benchmark amid a crisis-ridden year.