Sensex, Nifty End Lower For Third Day
(RTTNews) - Indian shares ended lower for a third day running on Wednesday, with heavyweight Reliance Industries and HDFC twins leading losses.
A cautious undertone prevailed as investors awaited a highly anticipated U.S. inflation report later in the day for clues as to whether inflation has peaked.
Economists forecast headline inflation accelerated to 8.8 percent year-on-year in June, marking a 40-year high.
A high reading would add more pressure on the Fed to hike rates by another 75 basis points later this month on top of June's three-quarter point hike.
The benchmark S&P BSE Sensex gave up early gains to end the session down 372.46 points, or 0.69 percent, at 53,514.15, while the broader NSE Nifty index fell 91.65 points, or 0.57 percent, to settle at 15,966.65.
Reliance Industries, HDFC Bank, Bharti Airtel, HDFC and IndusInd Bank fell 2-3 percent in the Nifty pack, while Grasim, Cipla, Hindustan Unilever, JSW Steel and Divis Laboratories climbed 2-3 percent.
HCL Technologies declined 1 percent on disappointing Q1 earnings.
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