Indian shares ended Tuesday’s session lower as fears of a global recession lingered and the Bank of Japan (BoJ) expanded its 10-year Japanese government bond yield target band – raising fears of an eventual tightening in policy.
Markets, however, ended off their day’s lows, tracking the intra-day recovery in European stocks and a weakening dollar after BoJ’s shock policy move.
The benchmark S&P BSE Sensex hit a low of 61,102.68 before ending the session down 103.90 points, or 0.17 percent, at 61,702.29.
The broader NSE Nifty index closed 35.15 points, or 0.19 percent, lower at 18,385.30 after having hit a low of 18,202.65 earlier.
Hindustan Unilever, Tata Motors, UPL, Eicher Motor and SBI Life fell 2-3 percent in the Nifty pack while Reliance Industries, TCS and Adani Enterprises rose 1-2 percent.
The rupee held steady in the afternoon while oil prices rose about 1 percent to extend overnight gains after the U.S. announced a plan to buy up to 3 million barrels of oil for the Strategic Petroleum Reserve following this year’s record release of 180 million barrels from the stockpile.
Gold rallied to climb above $1,800 per ounce in European trade, with recession fears and a weaker dollar helping lift bullion’s appeal.
Sensex, Nifty End Off Day’s Lows
2022-12-20 10:38:19
