Sensex, Nifty Extend Losses As Investors Brace For US Inflation Data
(RTTNews) - Indian shares ended lower for a second consecutive session on Monday, as investors braced for key U.S. inflation data due this week that could influence the Federal Reserve's rate-hike trajectory.
It is feared that a stronger-than-expected inflation reading could force the Fed to get more hawkish. Last week, several Fed officials reiterated their hawkish stance in order to attain a sufficiently restrictive stance of policy.
The benchmark S&P/BSE Sensex ended the session down 250.86 points, or 0.41 percent, at 60,431.84 while the broader NSE Nifty index settled 85.60 points, or 0.48 percent, lower at 17,770.90.
The market breadth was extremely negative and small and mid-cap stocks suffered deep cuts as risk-off sentiment prevailed in global markets.
The BSE Midcap index fell 1.25 percent and the Smallcap index lost 1.17 percent.
Adani Group stocks extended recent losses, with Adani Enterprises falling 7.6 percent and Adani Ports losing 5.4 percent.
Apollo Hospitals Enterprise, Infosys and SBI declined 2-3 percent, while Eicher Motor, Bajaj Auto, NTPC, Larsen & Toubro and Titan Company rose 1-2 percent.
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