Indian shares ended Wednesday’s session lower, with mixed earnings and caution ahead of next week’s U.S. presidential election and Federal Reserve rate decision keeping investors anxious.
The benchmark S&P/BSE Sensex dropped 426.85 points, or 0.53 percent, to 79,942.18, snapping a two-day winning streak on the back of weak cues from other Asian and European markets.
The broader NSE Nifty index closed at 24,340.85, down 126 points, or 0.51 percent, from its previous close.
Infosys, Trent, HDFC Life, Shriram Finance and Cipla fell 2-4 percent in the Nifty pack while Adani Enterprises rallied 3.7 percent after the company posted a nearly eight-fold rise in net profit in the September quarter.
Maruti Suzuki India, Britannia Industries, Tata Consumer Products and Hero MotoCorp climbed 2-3 percent.
Global cues were sluggish due to U.S. election jitters and persisting Middle East tensions.
Oil prices traded higher in European trade after two sessions of losses, while gold added to recent gains to reach new record highs.
The dollar rally paused after data showed U.S. job openings dropped to more than a 3-1/2-year low in September, in a possible sign of a slowing labor market that could bolster the case for more rate cuts by the Federal Reserve.
Market Analysis
Sensex, Nifty End Lower On Weak Global Cues
2024-10-30 10:32:03
