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Sensex, Nifty Follow Global Peers Lower
(RTTNews) - Indian shares ended slightly lower on Friday as risk-off sentiment prevailed in global financial markets amid fears of U.S. interest rates remaining higher for longer and concerns about spreading debt defaults in China's property market.
China's property developer Evergrande filed for bankruptcy protection in a U.S. court, raising concerns about ripple effects.
A liquidity crisis at one of China's top asset managers Zhongzhi Enterprise Group has raised worries of a contagion risk to the financial sector.
The benchmark S&P BSE Sensex ended the session down 202.36 points, or 0.31 percent, at 64.948.66 while the broader NSE Nifty index settled 55.10 points, or 0.28 percent, lower at 19,310.15.
Infosys, Hindalco, TCS, Tech Mahindra and Hero MotoCorp all fell around 2 percent while Adani Enterprises jumped 3.7 percent and Adani Ports added 3 percent after reports that Abu Dhabi National Energy Co. PJSC (TAQA) is keen to deploy $1.5-2.5 billion in Adani Group firms or in a single entity.
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