Sensex, Nifty End Choppy Session Modestly Lower
(RTTNews) - Indian shares ended a choppy session lower on Tuesday, adding to steep losses posted in the previous session.
Somewhat encouraging retail inflation data on the domestic front and gains in U.S. stock futures helped limit the downside in the broader market.
The benchmark S&P BSE Sensex dropped 153.13 points, or 0.29 percent, to 52,693.57, extending losses for the third straight session.
The broader NSE Nifty index fell 42.30 points, or 0.27 percent, to 15,732.10 as investors braced for aggressive hikes and hawkish guidance from the Federal Reserve on Wednesday.
Goldman Sachs and JPMorgan Chase & Co. said they expect the Fed to raise interest rates by 75 basis points at their meeting on Wednesday.
As recession worries grow, the messaging around future guidance is going to be key to determine market reactions.
Tech Mahindra, Hindalco, ONGC, IndusInd Bank and Bajaj Auto tumbled 2-5 percent while Cipla, Mahindra & Mahindra, Divis Laboratories, Bharti Airtel and NTPC rose 1-2 percent.
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