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Indian Shares End Slightly Lower Amid Weak Global Cues
(RTTNews) - Indian shares ended a tad lower on Wednesday, mirroring weak global cues as solid U.S. services data released overnight reinforced investor expectations for a more aggressive pace of FOMC rate hikes.
Also, Chinese trade data missed expectations, adding to headwinds for the world's second-largest economy.
The benchmark S&P/BSE Sensex ended the session down 168.08 points, or 0.28 percent, at 59,028.91, after having hit a low of 58,722.89 earlier in the day.
The broader NSE Nifty index also recouped some of its losses to settle down 31.20 points, or 0.18 percent, at 17,624.40 - extending losses for a second consecutive session.
Automakers and private banks succumbed to selling pressure, with Maruti Suzuki, Mahindra & Mahindra, IndusInd Bank, Bajaj Auto and Tata Motors losing 1-3 percent.
Cement stocks rose broadly, with Shree Cement climbing 8.4 percent and UltraTech rallying 4.5 percent despite reports of cement prices declining in most markets due to monsoon.
Adani Ports jumped 3 percent after the Adani Group rebutted a report that had termed it overleveraged.
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