Sensex Finishes Lower
India’s BSE Sensex closed about 0.5% down at 73,246 on Wednesday, pressured by rising oil prices, continued foreing fund outflows and caution ahead of the US Fed's policy outcome. Meanwhile, investors remained focused on the earnings season. Technology shares dragged on the market amid uncertainty over the Fed’s policy outlook and its implications for US demand for Indian IT services. Infosys dropped 3.3%, Tech Mahindra lost 1.8%, TCS fell 1.7% and HCLTech shed 1.1%. Selling pressure extended to FMCG, oil and gas, private banks, financials and metals. Reliance Industries fell 3.5%, despite its digital subsidiary Jio Platforms surging 21.4% in its market debut following a record-breaking $3.2 billion IPO.
India’s BSE Sensex closed about 0.5% down at 73,246 on Wednesday, pressured by rising oil prices, continued foreing fund outflows and caution ahead of the US Fed's policy outcome. Meanwhile, investors remained focused on the earnings season. Technology shares dragged on the market amid uncertainty over the Fed’s policy outlook and its implications for US demand for Indian IT services. Infosys dropped 3.3%, Tech Mahindra lost 1.8%, TCS fell 1.7% and HCLTech shed 1.1%.
Selling pressure extended to FMCG, oil and gas, private banks, financials and metals. Reliance Industries fell 3.5%, despite its digital subsidiary Jio Platforms surging 21.4% in its market debut following a record-breaking $3.2 billion IPO.