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.
Asian Shares Mixed Ahead Of US PCE Inflation Data
NZ Dollar Advances Against Majors
Australian Dollar Rises Against Majors
European Shares Seen Mostly Lower Before US Inflation Data
Sensex, Nifty Struggle For Direction In Early Trade
Australian Market Swings To Modest Gains In Mid-market
Asian Markets Mixed Amid Caution Trades
