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IndiaIndian shares inch lower as top banks recede
Reuters
2 minute read
A woman walks past the Bombay Stock Exchange (BSE) building in Mumbai, India, January 31, 2020. REUTERS/Francis Mascarenhas
Indian shares fell on Wednesday after a two-day rally, pressured by financial stocks after Asian peers slipped, with concerns over an uptick in U.S. inflation keeping investors away from assets that have risen during the pandemic.
The NSE Nifty 50 index (.NSEI) fell 0.15% to 15,084.05 by 0351 GMT, while the S&P BSE Sensex (.BSESN) inched 0.18% lower to 50,114.42.
The blue-chip indexes have gained roughly 3% each in the last two sessions, fuelled by meaty gains in financial stocks.
UPDATED: May 19, 2021 10:03 IST
Investors sold off recent winners like ICICI Bank and HDFC Bank, which fell 0.9% and 0.4% respectively. (Photo: Reuters)
Indian shares fell on Wednesday after a two-day rally, pressured by financial stocks after Asian peers slipped, with concerns over an uptick in U.S. inflation keeping investors away from assets that have risen during the pandemic.
The NSE Nifty 50 index fell 0.15% to 15,084.05 by 9:21 am, while the S&P BSE Sensex inched 0.18% lower to 50,114.42.
The blue-chip indexes have gained roughly 3% each in the last two sessions, fuelled by meaty gains in financial stocks.
Asian shares dipped on Tuesday following a weak close on Wall Street overnight, because of uncertainties over inflation.
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