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Sensex, Nifty Surrender Early Gains To End Lower
(RTTNews) - Indian shares ended a choppy session lower on Wednesday, extending losses for a fifth consecutive session.
Wall Street's main indexes surged higher overnight and Asian markets followed suit, helping Indian markets open on a positive note today.
The early gains faded as European stocks slipped again on concerns over the ripple effect of the SVB meltdown.
A rebound in the dollar and Treasury yields also triggered volatility.
The benchmark S&P/BSE Sensex ended a choppy session down 344.29 points, or 0.59 percent, at 57,555.90 while the broader NSE Nifty index settled 71.15 points, or 0.42 percent, lower at 16,972.15.
SBI, Hindustan Unilever, Reliance Industries, IndusInd Bank and Bharti Airtel fell 1-2 percent in the Nifty pack, while Adani Ports and Adani Enterprises jumped 4-6 percent.
Among other prominent gainers, Titan Company, Tata Steel and Asian Paints climbed 2-3 percent.
The rupee traded weak in the afternoon as traders kept a close eye on the developments surrounding the SVB crisis and awaited more U.S. economic data for cues on the Federal Reserve's monetary policy path.
Overnight data showed U.S. consumer price inflation eased slightly last month, spurring hopes of a smaller rate hike at the conclusion of next week's FOMC meeting.
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