Indian shares fell sharply on Monday as fears of a widening regional conflict in the Middle East coupled with fading expectations of an early rate cut in the U.S. stoked risk aversion and spurred safe-haven demand for the dollar.
A broad-based rebound in yields following better-than-expected jobs data from the U.S. also weighed on risk appetite.
The benchmark S&P BSE Sensex ended the session down 670.93 points, or 0.93 percent, at 71,355.22 – erasing gains of the last two sessions to reach a two-week low.
The broader NSE Nifty index fell 197.80 points, or 0.91 percent, to 21,513.
Tech Mahindra, Mahindra & Mahindra, SBI, SBI Life and UPL lost 2-3 percent in the Nifty pack while Adani Ports advanced 1.6 percent as Citi raised its target price on the stock.
Hero MotoCorp, Sun Pharma, NTPC and ONGC all rose about half a percent.
Sensex, Nifty Follow Global Peers Lower
2024-01-08 10:29:28
