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Sensex, Nifty End Lower On Fed Worries
(RTTNews) - Indian shares ended Thursday's session modestly lower, and the rupee declined against the dollar, as investors reacted to hawkish Fed remarks and strong U.S. retail sales data released overnight.
The dollar recovered from lower levels, as strong U.S. retail sales data cast doubt on recent hopes that inflation is declining and that the Fed will scale down the pace of its rate increases.
The benchmark S&P BSE Sensex ended the session down 230.12 points, or 0.37 percent, at 61,750.60, while the broader NSE Nifty index slipped 65.75 points, or 0.36 percent, to close at 18,343.90.
The downside remained capped as geopolitical tensions eased and oil extended losses on worries about rising COVID-19 cases in China, the world's largest crude importer. Apollo Hospitals Enterprise, Eicher Motors, Tata Motors, Mahindra & Mahindra and Titan Company all fell around 2 percent, while Larsen & Toubro, Adani Enterprises and Tata Consumer Products climbed 1-2 percent.
Paytm shares slumped nearly 11 percent after nearly 6 percent equity of the company changed hands on the NSE via block deals.
Earlier, there were reports that Softbank is selling stake worth $200 million in the company.
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