Sensex, Nifty End Notably Lower Ahead Of US Inflation Report
(RTTNews) - Indian shares ended Thursday's session notably lower as investors awaited U.S. consumer price inflation data later in the day that could influence the Fed's path forward on rates.
The CPI print due later in the day is expected to support the likelihood of a 75-basis point rate hike from the Federal Reserve next month.
Investors also weighed the risks of a global recession amid hawkish Fed rhetoric, escalating geopolitical tensions, China's continuing COVID-19 restrictions and a renewed sell-off in U.K. government bonds.
The benchmark S&P/BSE Sensex fell 390.58 points, or 0.68 percent, to 57,235.33 after having touched a low of 57,055.75 earlier in the day.
The broader NSE Nifty index settled at 17,014.35, down 109.25 points, or 0.64 percent, from its previous close, amid the weekly F&O expiry.
Wipro led losses to close 7 percent lower after the IT major forecast smaller sequential revenue growth for the December quarter.
ICICI Bank, SBI Life, SBI and Adani Ports all fell around 2 percent.
HCL Technologies rose over 3 percent after raising its 2023 revenue growth target.
Dr Reddy's Laboratories, Coal India and Sun Pharma rose around 1 percent each.
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