Sensex, Nifty Drift Lower On Weak Global Cues
(RTTNews) - Indian shares ended lower on Monday after all three major U.S. averages sold off Friday, thwarting the seasonal Santa Claus rally on concerns about rising bond yields.
A firmer dollar, foreign institutional investor (FII) outflows and a weakening rupee also dented sentiment as 2024 draws to a close.
The benchmark S&P/BSE Sensex dropped 450.94 points, or 0.57 percent, to 78,248.13 after a choppy session, following weak cues from Asian and European markets.
The broader NSE Nifty index fell 168.50 points, or 0.71 percent, to 23,644.90, snapping a two-day winning run.
Selling was broad-based, with Wipro, BEL, Trent, Tata Motors and Hindalco all falling around 2 percent.
Adani Enterprises jumped 7.3 percent after a report that the company expects to see consolidated revenue grow at a CAGR of 17.5 percent and net earnings by 45.8 percent over 2023-24 fiscal year (FY24) and FY27.
Tech Mahindra, HCL Technologies, IndusInd Bank and Shriram Finance all rose around 1 percent.
Dollar Drifts Lower Against Major Counterparts
TSX Ends On Firm Note Again, Gains 1.1% In Week
Canadian Market Remains Positive, Looks On Course For Another Firm Close
Swiss Market Ends Modestly Higher
European Stocks Close Weak After Cautious Session
Australian Dollar Drops Against Most Majors
Canadian Dollar Falls Against Majors
