Indian shares fell sharply on Wednesday as investors awaited key inflation readings in the U.S. and Europe, Q4 U.S. GDP data and China PMI figures this week for directional cues.
Global cues were mixed as investors awaited key economic data along with remarks by several Federal Reserve officials later in the day for clues on the timing and pace of interest rate cuts.
The benchmark S&P BSE Sensex fell 790.34 points, or 1.08 percent, to 72,304.88 while the broader NSE Nifty index tumbled 247.20 points, or 1.11 percent, to 21,951.15.
BSE mid-cap and small-cap indexes ended down 1.82 percent and 1.94 percent, respectively.
PSU stocks led losses, with Power Grid Corp falling 4.2 percent on profit taking after recent strong gains.
IndusInd Bank, Eicher Motors, Apollo Hospitals Enterprise and Bajaj Auto slumped 3-4 percent.
Telecom major Bharat Airtel and IT stocks such as TCS and Infosys finished marginally higher while FMCG giant Hindustan Unilever rose 0.8 percent.
Market Analysis
Sensex, Nifty Tumble Ahead Of US Inflation Data
2024-02-28 10:38:06
