Sensex, Nifty End Choppy Session Modestly Lower
(RTTNews) - Indian shares fluctuated before finishing modestly lower on Thursday, tracking weak global markets as hawkish comments from Fed Chair Jerome Powell dashed hopes around easing of monetary tightening from December, and China affirmed that a zero-tolerance approach continues to be the overall strategy in tackling COVID-19.
The downside remained capped after a survey showed India's service sector growth rebounded strongly in October from a 6-month low in September, driven by faster rises in new business and output.
The services Purchasing Managers' Index rose to 55.1 in October from 54.3 in September, S&P Global said.
The benchmark S&P BSE Sensex slipped 69.68 points, or 0.11 percent, to 60,836.41, extending losses for a second straight session.
The broader NSE Nifty index ended the session down 30.15 points, or 0.17 percent, at 18,052.70 with metal, IT, auto and PSU stocks leading losses. The rupee traded weak and was down 23 paise to 82.92 against the greenback in the afternoon as the dollar surged and U.S. Treasury yields climbed on hawkish Fed comments.
Oil prices were down more than 1 percent in European trade, hit by a stronger dollar and China demand concerns.
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