Sensex, Nifty Fall On Fed Worries
(RTTNews) - Indian shares were slightly lower on Wednesday as investors digested lackluster U.S. inflation data and awaited the final Federal Reserve decision of the year.
U.S. core inflation rose last month, raising concerns that the U.S. central bank might not be quick to declare a win in its policy efforts.
The benchmark S&P BSE Sensex dropped 211 points, or 0.3 percent, to 69,324, with strong macroeconomic indicators on the domestic front helping cap the downside.
The broader NSE Nifty index was down 68 points, or 0.3 percent, at 20,838.
Tech stocks led losses, with Tech Mahindra, Infosys and TCS falling 1-2 percent. Axis Bank declined 1.6 percent after nearly 3.1 crore shares exchanged hands in a block deal.
HDFC Life fell 1.7 percent on profit taking after rallying more than 5 percent the previous day.
On the positive side, Power Grid Corp, Eicher Motors, Hero MotoCorp and NTPC rose 1-2 percent.
Spicejet was little changed and Adani Ports rose about half a percent on fund raising reports.
Coal India fell about 1 percent after the company reported a 7.6 percent year-on-year increase in its capital expenditure (capex) for the April-November period.
Hindalco edged down slightly as it unveiled plans to invest Rs. 800 crores to build a new plant near Sambalpur in Odisha.
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