[ad_1]
Indian equities ended with cuts on Wednesday as losses in metals and automobiles weighed, and investors stayed cautious ahead of crucial US inflation data in the week ahead to get clarity on the Fed’s rate hike path.
The NSE Nifty 50 index settled 0.25 per cent lower to close at 18,157, while the S&P BSE Sensex also fell 0.25 per cent to 61,033.55, with indices snapping two straight sessions of gains.
“Profit booking seemed to be the order of the day, especially in the second half of the day’s session as both Sensex and Nifty ended lower after a positive start,” said Prashanth Tapse – Research Analyst, Senior VP (Research), Mehta Equities
“Investors seemed nervous ahead of US CPI inflation numbers that are slated to release on Thursday. Technically speaking, the line in the sand is at Nifty’s support at 17,907 mark, with the immediate goal post seen at its all-time-high at 18,605 mark,” added Mehta.
Hindalco Industries, Power Grid Corp, Divis Labs, Tech Mahindra and Grasim Industries were among the top Nifty losers.
Adani Ports, Coal India, ITC, Dr Reddy’s Labs and Hero MotoCorp.
Cola India hit a three-year high after robust quarterly results on Monday.
Benchmark indices have gained more than 5 per cent since the beginning of the earnings season in October. IT, banks and consumer goods companies reported healthy numbers for the quarter gone by.
Except for PSU Bank and FMCG, all other indices ended in the red.
Tata Motors gave up gains to settle 0.4 per cent lower ahead of its quarterly results.
In post-market hours, Tata Motors released its numbers for the past quarter and posted a smaller second-quarter loss on improved sales volumes.
(With inputs from Reuters)
[ad_2]
Source link
