Sensex, Nifty End Lower On US Rate Worries
(RTTNews) - Indian shares ended lower on Monday and the rupee fell sharply against the dollar, as upbeat labor and service sector data from the U.S. revived fears of continued inflation and more interest-rate hikes.
Increased U.S.-China tensions over a balloon incident and ongoing sell-off in Adani Group stocks also kept investors nervous.
The benchmark S&P/BSE Sensex dropped 334.98 points, or 0.55 percent, to 60,506.90, snapping a five-session winning streak.
The broader NSE Nifty index settled 89.45 points, or half a percent, lower at 17,764.60.
Infosys, Tata Steel, Hindalco, JSW Steel and Divis Laboratories lost 2-4 percent in the Nifty pack, while Hero MotoCorp, Apollo Hospitals Enterprise, BPCL and IndusInd Bank all rose around 2 percent.
Adani Group stocks extended their recent selloff, with Adani Transmission falling 10 percent.
Adani Total Gas, Adani Green Energy, Adani Power and Adani Wilmar and fell around 5 percent, while Adani Ports jumped 8.6 percent.
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