Indian shares fell sharply on Friday, following muted global sentiments as inflation worries persisted and tech giants Apple and Amazon reported disappointing quarterly results in a sign that the global supply-chain crisis is hobbling even the mightiest companies.
Heavyweight banks, financials and IT companies led losses as investors looked ahead to the Federal Reserve meeting next week for clues on the tapering timeline.
The 30-share S&P BSE Sensex ended the session down 677.77 points, or 1.13 percent, at 59,306.93, while the broader NSE Nifty index settled at 17,671.65, down 185.60 points, or 1.04 percent, from its previous close.
Reliance Industries, Kotak Mahindra Bank, IndusInd Bank, NTPC and Tech Mahindra fell 2-3 percent while Dr Reddy’s Laboratories, Shree Cement, Cipla, UPL and UltraTech Cement climbed 1-3 percent.
Shares of Indian Railway Catering and Tourism Corporation (IRCTC) fell nearly 30 percent in early trade before recouping most losses to end the session down 7.7 percent at Rs.842.80 as the railway ministry reversed its decision to seek half of revenue from service charge on online tickets.
Market Analysis
Sensex Drops 678 Points; Nifty Dips Below 17,700
2021-10-29 11:03:23
