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.
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