News Analyst
(RTTNews) – Indian shares followed global peers lower on Wednesday as uncertainty prevailed over U.S.-President-election Trump’s policy stance and Fed’s policy.
Sentiment was also dented after official data showed India’s consumer price inflation accelerated in October to the highest level more than a year amid rising food costs.
Consumer prices surged 6.21 percent on a yearly basis in October, faster than the 5.49 percent rise seen in September. The expected rate was 5.81 percent.
The benchmark S&P/BSE Sensex was down 254 points, or 0.3 percent, at 78,420 in early trade after falling more than 1 percent in the previous session on concerns over FII outflows and disappointment stemming from a weak domestic earnings season.
The broader NSE Nifty index was down 120 points, or half a percent, at 23,762.
Tata Steel, Eicher Motors, Hero Moto Corp, Mahindra & Mahindra and BEL were down 2-3 percent while NTPC rose 1.4 percent and SBI Life added half a percent.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
