Sensex, Nifty Extend Losses On Trade Worries
(RTTNews) - Indian shares ended lower on Friday to extend recent declines due to concerns over steep U.S. tariffs imposed on Indian goods.
The downside, however, remained capped after official data showed India's industrial output production expanded at the fastest pace in four months in July.
Industrial production climbed 3.5 percent year-over-year in July, faster than the 1.5 percent growth in June. The expected increase was 2.1 percent.
The overall growth in July was mainly driven by a 5.4 percent expansion in the manufacturing sector and a 0.6 percent rebound in electricity output.
Global cues were mixed ahead of the Federal Reserve's preferred readings on consumer price inflation due later in the day.
The benchmark BSE Sensex ended the session down 270.92 points, or 0.34 percent, at 79,809.65 while the broader NSE Nifty index closed down 74.05 points, or 0.30 percent, at 24,426.85.
The BSE mid-cap and small-cap indexes slipped 0.4 percent and 0.3 percent, respectively.
The market breadth was weak on the BSE, with 2,169 shares falling while 1,913 shares advanced and 155 shares closed unchanged.
Mahindra & Mahindra led losses to close 3 percent lower.
Reliance Industries shares fell 2.2 percent as the company unveiled multiple developments in AI at the AGM and also announced the much-awaited Jio IPO.
Tech Mahindra, Tata Motors, NTPC and Infosys dropped 1-2 percent.
U.S. Dollar Falls Against Most Majors
German Inflation Accelerates To 2.2% In August
Canadian Market Up In Positive Territory; BRP Rises Sharply On Strong Earnings
Swiss Market Ends Modestly Lower
European Stocks Close Lower On Geopolitical Tensions
U.S. Consumer Sentiment Deteriorates Slightly More Than Initially Estimated In August
Chicago Business Barometer Slumps Much More Than Expected In August
