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Sensex, Nifty Decline For Second Day On Fed, China COVID Concerns
(RTTNews) - Indian shares fell on Friday but pared some losses in the afternoon trade amid optimism over softening crude prices that were not far off a four-week low hit in the previous session.
A cautious undertone prevailed due to concerns over rising COVID cases in China and hawkish comments from more U.S. Federal Reserve officials.
The rupee held largely steady in the afternoon on the back of a weaker dollar in overseas markets.
The benchmark S&P BSE Sensex fluctuated before ending the session down 87.12 points, or 0.14 percent, at 61,663.48 - extending losses for a second day running.
The broader NSE Nifty index slipped 36.25 points, or 0.20 percent, to settle at 18,307.65.
IndusInd Bank, Bajaj Finance, NTPC, Bajaj Auto and Mahindra & Mahindra fell 2-3 percent in the Nifty pack, while Hindustan Unilever, Asian Paints and HCL Technologies all rose about 1 percent.
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