Indian shares ended modestly lower on Tuesday after U.S. Federal Reserve officials tempered investor enthusiasm about potential interest-rate cuts
Global cues were mixed, the dollar firmed up and Treasury yields climbed after comments from three Fed officials suggested that U.S. interest rates are likely to stay high for longer than anticipated.
The minutes of the Federal Reserve’s latest policy meeting and an earnings report from artificial intelligence darling Nvidia were also on investors’ radar.
The benchmark S&P BSE Sensex ended the session down 52.63 points, or 0.07 percent, at 73,953.31 after a choppy session.
The broader NSE Nifty index settled up 27.05 points, or 0.12 percent, at 22,529.05.
The downside was capped as the news of the death of Iran’s president and the bad health of Saudi Arabia’s king failed to affect crude prices in a positive way. It is still unclear whether the events will have an impact on energy policy.
Metal stocks surged as copper prices hit record highs in international markets helped by China’s stimulus to support the country’s property sector. JSW Steel, Tata Steel, Coal India and Hindalco jumped 4-5 percent.
Among the prominent decliners, ICICI Bank, IndusInd Bank, Maruti Suzuki India, Hero MotoCorp and Nestle India dropped 1-2 percent.
Sensex, Nifty End Narrowly Mixed After Choppy Session
2024-05-21 10:19:46
