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Sensex, Nifty End Lower As Traders Pare Rate Cut Expectations
(RTTNews) - Indian shares ended Monday's session modestly lower as investors digested hawkish comments from central bank officials and looked ahead to the Bank of Japan's interest-rate decision and a key U.S. inflation reading due this week for direction.
Meanwhile, geopolitical worries returned to the fore after dozens of people were reportedly killed in Israeli airstrikes in a refugee camp in Jabalia in northern Gaza Sunday.
Investors also kept a wary eye on oil price movements following recent attacks on ships crossing the Red Sea.
The benchmark S&P BSE Sensex ended the session down 68.66 points, or 0.24 percent, at 71,315.09 while the broader NSE Nifty index settled 38 points, or 0.18 percent, lower at 21,418.65.
While banking and IT stocks fell on profit taking after recent strong gains, automakers and healthcare stocks witnessed selective buying.
JSW Steel, ICICI Bank, Tech Mahindra, ITC and Power Grid Corp fell 1-2 percent in the Nifty pack.
On the positive side, Reliance Industries, Adani Ports, Sun Pharma, Hindalco and Bajaj Auto rallied 1-3 percent.
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