Indian shares fluctuated before ending modestly lower on Wednesday.
Weak cues from global markets dented sentiment as investors reacted to the U.S. presidential debate and awaited key U.S. inflation prints for clues on interest-rate cuts.
The U.S. consumer price inflation reading later in the day along with the producer price index reading and initial jobless claims figures due on Thursday could offer fresh insights into the central bank’s interest rate plans, heading into next week’s Federal Reserve meeting.
A weaker dollar in international markets and a sharp fall in oil prices to a 33-month low on Tuesday helped limit the downside in the broader market.
The benchmark 30-share Sensex dropped 398.13 points, or 0.49 percent, to 81,523.16 while the broader NSE Nifty index ended at 24,918.45, down 122.65 points, or 0.49 percent, from its previous close.
Among the prominent decliners, Tata Motors plunged 5.7 percent to extend losses for the ninth straight session.
ONGC lost 2.9 percent after oil prices slumped to close near three-year lows in the U.S. trading session overnight on demand concerns.
Adani Enterprises, Larsen & Toubro and Wipro all fell around 2 percent while Bajaj Auto jumped more than 4 percent and Asian Paints advanced 2.2 percent.
Sensex, Nifty End Choppy Session Lower Before US Inflation Test
2024-09-11 10:32:56
