BENGALURU: Indian shares snapped a four-session rally on Tuesday as financial and IT stocks slid amid worries that a potential acceleration in US inflation could lead to foreign fund outflows from the region.
The NSE Nifty 50 index fell 0.61% to 14,850.75, while the S&P BSE Sensex slid 0.69% to 49,161.81.
Over the last four sessions, India's Nifty and Sensex had gained about 3% and 2.5%, respectively, even as domestic coronavirus cases surged.
Shares of lenders accounted for most of the losses on the benchmark Nifty on Tuesday. The Nifty Bank index fell 0.8%, with top private-sector lender HDFC Bank declining 1.2%.
The Nifty Metal index dropped 0.9% after a commodity-driven four-day rally to record highs, while IT majors Infosys and Tata Consultancy Services slipped 0.7% each. State-run firms Coal India, NTPC, Indian Oil Corp and GAIL were among the top gainers in the Nifty 50, rising 4.6%-5.9%.
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