Sensex Falls 388 Points On Fed, China Worries; Nifty Dips Below 19,400
(RTTNews) - Indian shares ended notably lower on Thursday, mirroring weak cues from global markets.
Investors remained risk averse as the dollar hit two-month highs and bond yields rose after the release of hawkish Fed minutes showing that a number of Fed officials still saw the need for more interest rates to curb stubborn inflation.
China worries persisted, adding to the downbeat sentiment.
Chinese wealth manager Zhongzhi Enterprise Group said it was facing a liquidity crisis and would have to restructure its debt.
Separately, Fitch Ratings said it may consider rethinking China's A+ sovereign credit rating amid growing economic headwinds to the Asian giant.
Reflecting weak global sentiments, the benchmark S&P BSE Sensex dropped 388.40 points, or 0.59 percent, to 65,151.02.
The broader NSE Nifty index settled 99.75 points, or 0.51 percent, lower at 19,365.25, with Larsen & Toubro, Reliance Industries, Power Grid Corp, LTIMindTree and ITC all falling around 2 percent.
Among the top gainers, Adani Ports jumped 4.4 percent after two promoter group entities acquired 2 percent stake in the company via open market transactions. Bajaj Auto, SBI, Adani Enterprises and Titan Company rose 1-2 percent.
Sensex, Nifty End Choppy Session Little Changed
European Shares Inch Higher In Cautious Trade
Asian Shares Modestly Higher Before Pivotal US Jobs Report
European Shares Set For Steady Open Before US Jobs Report
Sensex, Nifty Open Higher On Fed Rate Cut Hopes
Australian Market Trims Early Gains In Mid-market
Asian Markets Track Wall Street Higher
