Indian shares ended lower on Wednesday, tracking mixed global cues as concerns about COVID-19 continued to weigh and investors awaited the latest Federal Reserve minutes to gauge the direction of monetary policy.
Benchmark indexes snapped their four-day record-breaking streak as traders booked profits amid weekly expiry of index futures and option contracts. Indian stock exchanges will remain close on Thursday, August 19 on account of Muharram.
The benchmark 30-share BSE Sensex hit a new record high of 56,118 before reversing direction to end the session down 162.78 points, or 0.29 percent, at 55,629.49.
Likewise, the broader NSE Nifty index surged to a record high of 16,701 before settling down 45.75 points, or 0.28 percent, at 16,568.85.
The downside remained capped after rating agency CRISIL upgraded the credit quality outlook of India Inc for FY22 from “cautiously optimistic” to “positive” and said the increase in coverage of vaccinations should mitigate the impact of a third wave if it comes.
Tata Motors, SBI Life, ICICI Bank, Hindalco and Kotak Mahindra Bank all fell around 2 percent in the Nifty pack while Bajaj Finance, UltraTech Cement and Eicher Motors rose more than 2 percent each.
Hindustan Aeronautics jumped 5.2 percent after it signed a contract worth ? 5,375 crore with GE Aviation, USA.
Market Analysis
Sensex, Nifty End Lower On Mixed Global Cues
2021-08-18 10:59:33
