Indian shares fell on Wednesday to snap two days of gains, with banks and financials among the worst hit.
Markets began the day on a positive note but slipped towards the late afternoon session of trade, tracking weakness among Asian and European peers.
The benchmark 30-share S&P BSE Sensex ended the session down 206.93 points, or 0.34 percent, at 61143.33 while the broader NSE Nifty index settled at 18,210.95, down 57.45 points, or 0.31 percent, from its previous close.
Axis Bank shares slumped 6.5 percent despite the private sector lender reporting a record high quarterly profit of Rs 3,133 crore in Q2 FY22.
Bajaj FinServ, Tata Motors, ONGC and Bajaj Finance fell 2-5 percent while Asian Paints surged 4.1 percent on the price hike buzz.
Cipla, SBI Life, Divis Laboratories and UPL rose 2-4 percent.
Globally, cues from Asia and Europe were tepid as inflation worries persisted and investors awaited the Bank of Japan (BOJ) and European Central Bank (ECB) policy meetings for directional cues.
U.S.-China tensions also remained on investors’ radar after the U.S. licence of one of China’s biggest telecoms companies was revoked, citing national security concerns.
Market Analysis
Sensex Drops Over 200 Points; Nifty Ends At 18,211
2021-10-27 11:04:54
