Sensex, Nifty End Off Day's Lows
(RTTNews) - Indian shares fell for a fourth consecutive session on Tuesday, though markets ended well off their day's lows, taking cues from gains in European equities and U.S. stock futures after the Biden administration assured that there won't be a relapse of the financial crisis from 15 years ago.
While falling oil prices and growing expectations that the Federal Reserve will pause its rate-hiking campaign at next week's meeting helped offer some respite from selling, traders were unwilling to take big positions ahead of the U.S. consumer inflation report due later in the day.
The benchmark S&P/BSE Sensex ended the session down 337.66 points, or 0.58 percent, at 57,900.19 after hitting a low of 57,721.16 earlier in the day.
Likewise, the broader NSE Nifty index hit an intraday low of 16,987.10 before settling 111 points, or 0.65 percent, lower at 17,043.30.
Adani Group stocks led losses, with Adani Enterprises and Adani Ports falling 7.7 percent and 4.1 percent, respectively.
HDFC Life, TCS and Mahindra & Mahindra fell 2-3 percent while Bharti Airtel, Larsen & Toubro, BPCL and Titan Company all rose about 1 percent.
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