Indian shares ended lower for a second straight session on Wednesday as investors watched the latest developments in the Middle East and awaited the Federal Reserve’s rate decision later in the day for direction.
Investors fretted about the escalation of Middle East conflict beyond Gaza after Israeli airstrikes hit a densely populated refugee camp in the Gaza Strip on Tuesday, killing at least 50 Palestinians and a Hamas commander.
Hamas’ armed wing al-Qassam Brigades claimed today that Israel’s air strikes on the Jabalia refugee camp led to the death of 7 hostages, including three with foreign passports.
Israel prime minister Benjamin Netanyahu said the country’s war against Hamas will continue despite “painful losses”.
The U.S. central bank is widely expected to leave interest rates unchanged later in the day, but traders will pay close attention to the accompanying statement for clues about the outlook for rates.
Closer home, India’s manufacturing growth slowed in October but remained robust despite challenging global economic conditions, survey results from S&P Global showed earlier today.
The benchmark S&P/BSE Sensex ended the session down 283.60 points, or 0.44 percent, at 63,591.33, extending losses for a second straight session. The broader NSE Nifty index fell 90.45 points, or 0.47 percent, to 18,989.15.
Top losers on the Nifty included Adani Enterprises, Coal India, Tata Steel, SBI Life and Adani Ports.
Among those that performed well, BPCL and Sun Pharma climbed 2-3 percent.
Sensex, Nifty Decline For Second Day Ahead Of Fed Decision
2023-11-01 10:30:51
