Sensex, Nifty End Modestly Lower
(RTTNews) - Indian shares ended Monday's session modestly lower amid concerns over slowing earnings growth and a weakening rupee amidst continued foreign fund outflows.
Rising geopolitical risks also weighed on markets after fighting between Russia and Ukraine intensified over the weekend, and outgoing U.S. President Joe Biden authorized the first use of U.S.-supplied long-range missiles by Ukraine for strikes inside Russia.
The benchmark S&P BSE Sensex ended the session down 241.30 points, or 0.31 percent, at 77,339.01, with IT, energy and healthcare stocks leading losses.
The broader NSE Nifty index closed at 23,453.80, down 78.90 points, or 0.34 percent, from its previous close.
Cipla, BPCL, Infosys, Dr Reddy's Laboratories and TCS fell 2-3 percent in the Nifty pack while Hindustan Unilever, Nestle India, Tata Steel and Hero MotoCorp gained 1-3 percent.
NALCO, Hindalco and Vedanta surged 3-9 percent after China withdrew export tax rebate on aluminum and copper products.
Gas distribution companies Mahanagar Gas and Indraprastha Gas fell 14 percent and 20 percent, respectively after the government, over the weekend, cut the Administered Price Mechanism (APM) allocation to the companies by 20 percent for the second consecutive month.
Indonesia Shares Tipped To Open In The Green
Hong Kong Shares Poised To End Two-Day Slide
China Stock Market May Stop The Bleeding On Thursday
Taiwan Stock Market May Extend Winning Streak
Singapore Stock Market May Extend Wednesday's Gains
Malaysia Bourse May Add To Its Winnings On Thursday
Higher Open Called For Japan Stock Market
