Indian shares fell for a fourth straight session on Friday as investors fretted about slowing global growth and persistent inflationary pressure in the United States, which could force the Federal Reserve to tighten monetary policy sooner than expected.
The benchmark 30-share BSE Sensex ended the session down 360.78 points, or 0.61 percent, at 58.765.58 while the broader NSE Nifty index dropped 86.10 points, or 0.49 percent, to settle at 17,532.05.
The Bajaj twins fell on profit taking after recent gains. Bajaj FinServ lost 3.2 percent and Bajaj Finance gave up 1.9 percent.
Maruti Suzuki India shares ended 2.5 percent lower after the automaker warned of a hit to production for a second straight month due to chip shortage.
Bharti Airtel declined 1.8 percent and Vodafone Idea slumped 4.2 percent after the Department of Telecom slapped a penalty of Rs 2,000 crore on the companies based on Trai recommendations of 2016 relating to provisions of point of interconnect to a new operator.
On the positive side, Dr Reddy’s Laboratories, UltraTech, IOC, Coal India and Mahindra & Mahindra climbed 1-3 percent.
Shares of Crompton Greaves Consumer Electricals, JK Cement, Delta Corp and Abbott India jumped 2-10 percent after the shares were added to the futures and options (derivative) segment of the markets from the start of October series.
Market Analysis
Sensex, Nifty Extend Losses On Weak Global Cues
2021-10-01 11:03:03
