Sensex, Nifty Follow Global Peers Lower
(RTTNews) - Indian shares fell notably on Thursday to extend losses from the previous session, as U.S. political uncertainty, China's COVID-woes and the turmoil in crypto currency markets spurred risk aversion.
U.S. political uncertainty weighed as the GOP's midterm 'red wave' failed to materialize.
China is battling a rebound in COVID-19 infections, with millions of residents in China's manufacturing hub of Guangzhou currently on the verge of a major lockdown.
China's capital city Beijing is also grappling with a surge in infections and more restrictions.
Traders also awaited key U.S. inflation data later in the day that is expected to show some moderation in price growth.
The benchmark S&P BSE Sensex fell 419.85 points, or 0.69 percent, to close at 60,613.70, while the broader NSE Nifty index declined 128.80 points, or 0.71 per cent, to end at 18,028.20.
Tata Motors led losses to close 4.6 percent lower after posting a net loss in the July-September quarter.
Titan Company, Bajaj FinServ, Mahindra & Mahindra and Axis Bank lost 3-4 percent.
Aurobindo Pharma plunged 11.6 percent after reports that the Enforcement Directorate has arrested its director Sarath Reddy under the money laundering act in the now scrapped Delhi Excise policy case.
On the positive side, Bharti Airtel, ONGC, Kotak Mahindra Bank, HDFC Bank and Hero MotoCorp rose 1-2 percent.
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