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Sensex, Nifty Snap Two-day Winning Streak As Recession Worries Weigh
(RTTNews) - Indian shares ended Thursday's session modestly lower after two consecutive sessions of gains.
While fears of a possible U.S. recession weighed, falling oil prices and a weaker dollar overseas lent some support.
Global cues were broadly negative as weak U.S. data and hawkish Fed comments stoked recession worries.
The benchmark S&P/BSE Sensex ended the session down 187.31 points, or 0.31 percent, at 60,858.43, while the broader NSE Nifty index settled 57.50 points, or 0.32 percent, at 18,107.85.
Mid-cap and small-cap indexes followed suit and the market breadth was skewed in favor of the bears.
Adani Enterprises led losses to close nearly 4 percent lower after announcing the floor price for its follow-on public offer.
Adani Ports, IndusInd Bank, Tata Motors and Asian Paints fell 2-3 percent.
On the positive side, Coal India rallied 3.3 percent after the government said that it has set a coal production target of more than one billion tons (BT) for the next financial year.
ONGC rose 1.4 percent to hit an over six-month high in intraday trading on hopes of strong earnings growth.
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