Sensex, Nifty Snap Three-day Winning Streak
(RTTNews) - Indian shares ended lower on Friday after three consecutive sessions of gains.
Weak global cues played spoilsport as hotter-than-expected U.S. producer price data and hawkish remarks by Federal Reserve officials added to worries about the outlook for interest rates.
Oil prices extended recent declines on signs of amply supply, helping markets ended off their day's lows.
The benchmark S&P/BSE Sensex hit an intraday low of 60,810.67 before recouping some losses to end the session down 316.94 points, or 0.52 percent, at 61,002.57.
Likewise, the broader NSE Nifty index cut early losses to settle 91.65 points, or 0.51 percent, at 17,944.20.
Selling was seen across the board, with oil/gas stocks bucking the weak trend to end with modest gains.
Adani Enterprises led losses in the Nifty pack to close 4.3 percent lower while HDFC Life, SBI Life, IndusInd Bank and Nestle India fell 2-3 percent.
On the flip side, Asian Paints, Hero MotoCorp, BPCL, UltraTech and Larsen & Toubro rose 1-2 percent.
The rupee traded in a narrow range while oil extended recent losses amid signs of amply supply and concerns over rising U.S. interest rates.
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