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Sensex, Nifty Extend Declines For Sixth Day
(RTTNews) - Indian shares fell for a sixth straight session on Wednesday amid heightened global uncertainty and potential trade war fears.
U.S. President Donald Trump could sign an order later today to require that U.S. tariffs on imports match the tax rates charged by other countries.
After Fed Chair Jerome Powell's comments dented rate-cut hopes, investors awaited key U.S. CPI data later in the day for further direction.
Geopolitical tensions also remained on investors' radar after Israeli Prime Minister Benjamin Netanyahu threatened to resume war on the Gaza Strip and Hamas delayed the planned hostage release, saying that the language of threats has no value and further complicates matters.
The benchmark 30-share BSE Sensex hit an intraday low of 75,388.39 before recovering some ground to end the session down 122.52 points, or 0.16 percent, at 76,171.08.
The broader NSE Nifty index ended down 26.55 points, or 0.12 percent, at 23,045.25 after hitting a low of 22,798.35 earlier.
The BSE mid-cap and small-cap indexes fell around half a percent each.
The market breadth was negative on the BSE, with 2,426 shares declining while 1,544 shares advanced and 96 shares ended unchanged.
The market capitalization of BSE-listed companies shrank as much as Rs 6 lakh crore in early trade after a Rs 10 lakh crore wipeout in the previous session.
Among the prominent decliners, IndusInd Bank, Power Grid Corp, BEL, Eicher Motors and Mahindra & Mahindra fell 2-3 percent.
Financials surged, with HDFC Life, Shriram Finance, SBI Life and Bajaj FinServ rising 2-3 percent.
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