BENGALURU: Indian shares fell on Wednesday, dragged by broad slide across sectors, as investors booked profits on a nearly 5% rise in the benchmark Nifty 50 in fiscal 2024 so far, while weak global cues amid debt ceiling negotiations in the U.S. weighed.
The Nifty 50 was closed 0.57% down at 18,181.75, while the S&P BSE Sensex fell 0.60% to 61,560.64. Both indexes extended losses to a second consecutive session.
High-weightage financials and information technology (IT) led losses in the Nifty, falling 0.71% and 0.97% respectively.
Indian shares set to open higher on inflation boost, FII buying
“The market is witnessing profit booking, especially in heavyweights from higher levels,” said Siddhartha Khemka, head – retail research at Motilal Oswal Financial Services.
“Some consolidation may not be ruled out given the sharp up-move in the last few weeks.”
The Nifty has risen 4.74% so far this fiscal, supported by a healthy results season and consistent buying from...
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