Indian shares fluctuated before ending slightly lower on Wednesday, with inflation and growth worries weighing on markets.
The benchmark S&P BSE Sensex ended a choppy session down 185.24 points, or 0.33 percent, at 55,381.17 as climbing oil prices and rising debt yields in the debt markets soured investor mood.
Geopolitical tensions also intensified after U.S. President Joe Biden pledged to send Ukraine more advanced rocket systems and munitions to more precisely strike key targets on the battlefield.
The broader NSE Nifty index dropped 61.80 points, or 0.37 percent, to close at 16,522.75 with IT and pharma stocks pacing the decliners.
Bajaj FinServ, Tech Mahindra, Hindalco, Apollo Hospitals Enterprises and Bajaj Auto fell 3-4 percent in the Nifty pack, while HDFC Life, Coal India and JSW Steel rallied 2-4 percent.
Global cues were mixed as weak data from Asia and Europe fueled concerns about an economic slowdown.
The dollar strengthened in international markets and U.S. treasury yields rose, as hawkish comments from Fed Governor Christopher Waller earlier this week caused investors to trim expectations for a pause in the rate hike cycle after two 50 basis point hikes each this month and next.
Sensex, Nifty End Choppy Session Lower
2022-06-01 10:24:51
