Indian shares fell sharply on Tuesday to snap a four-day winning streak as inflation worries returned to the fore and investors looked ahead to U.S. inflation data and speeches from Fed officials to see how authorities are likely to respond to receding risks posed by the coronavirus in some major economies.
As inflation worries mount, it is feared that the Federal Reserve might start reining in its ultra-loose monetary policy sooner than expected.
On the COVID-19 front, the total active virus cases in the country dipped to 37,15,221 today with a net decline of 30,016 cases being recorded in a span of 24 hours for the first time after 61 days, the health ministry said. Also, the new recoveries outnumbered the new cases seen in the last 24 hours.
The benchmark 30-share BSE Sensex ended the session down 340.60 points, or 0.69 percent, at 49,161.81, while the broader NSE Nifty index fell 91.60 points, or 0.61 percent, to settle at 14,850.75.
Divis Laboratories, HDFC, Kotak Mahindra Bank, Hindalco and JSW Steel fell 2-3 percent in the Nifty pack, while stocks of public sector undertakings such as BPCL, ONGC, IOC, NTPC and Coal India surged 2-6 percent.
Sensex, Nifty Snap Four-day Winning Streak Amid Global Selloff
2021-05-11 10:50:39
