Sensex, Nifty Snap Three-day Winning Streak
(RTTNews.com) - Indian shares closed lower on Thursday to snap a three-day winning streak after the U.S. Federal Reserve lifted interest rates for the second time this year and signaled a more aggressive rate path for the rest of the year.
Renewed worries over global trade, weaker-than-expected Chinese data, disappointing current account and inflation data coupled with caution ahead of the ECB's decision on its stimulus program also kept investors nervous.
While India's current account deficit widened more than forecast last quarter, inflation based on wholesale prices hit a 14-month high of 4.43 percent in May due to rising fuel prices, separate reports showed.
The benchmark BSE Sensex ended the session down 139.34 points or 0.39 percent at 35,599.82 while the broader Nifty index dropped 48.65 points or 0.45 percent to 10,808.95.
IOC, Indiabulls Housing Finance, TCS, Adani Ports and Tech Mahindra fell over 2 percent in the Nifty pack, while pharma stocks such as Cipla, Sun Pharma and Lupin climbed 1-4 percent.
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