Sensex, Nifty End Marginally Lower In Cautious Trade

RTTNews | 914 hari yang lalu
Sensex, Nifty End Marginally Lower In Cautious Trade

(RTTNews) - Indian shares ended a choppy session marginally lower on Tuesday, with heightened geopolitical tensions in the Middle East and lingering uncertainty about the path of U.S. rate cuts weighing on sentiment.

The tension in the Middle East escalated following an incident in which a top Iranian military commander and several diplomats were killed in a reported Israeli airstrike on an Iranian consulate in Damascus.

Iran has vowed to retaliate, raising the risk of a wider Middle Eastern conflict.

Investors awaited more U.S. data, including the highly anticipated U.S. jobs report as well as remarks by several Fed officials for more additional clarity on when the Fed will cut interest rates.

Fed Chair Jerome Powell is set to speak Wednesday after solid U.S. factory activity data along with signs of rising component prices in the ISM report raised concerns about stubborn inflation and poured cold water on hopes for interest rate cuts in June.

Closer home, the first policy meeting of the RB's rate-setting panel for FY25 is scheduled this week from April 3-5, 2024. A status quo on rates is likely, given the backdrop of strong growth and inflation persistently exceeding the MPC's target.

The benchmark S&P BSE Sensex ended the session down 110.64 points, or 0.15 percent, at 73,903.91 after having a hit a low of 73,743.77 earlier.

The broader NSE Nifty index recouped most early losses to end down 8.70 points at 22,453.30.

SBI Life, ICICI Bank, HCL Technologies, Kotak Mahindra Bank and Hero MotoCorp fell 1-2 percent in the Nifty pack while Adani Ports, Bajaj Auto, BPCL, Mahindra & Mahindra and Tata Consumer Products rallied 2-4 percent.

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