BENGALURU: Indian shares gave up gains to end lower on Monday, weighed by shares of Reliance Industries, ahead of retail data that could provide a glimpse into the inflation picture in the country.
The blue-chip NSE Nifty 50 index ended 0.82% lower at 17,368.25, and the benchmark S&P BSE Sensex fell 0.86% to 58,283.42. Both indexes had touched their highest levels since Nov. 22 earlier in the session.
“We are still seeing mixed trends in global markets as investors take comfort in hopes the new COVID-19 variant may be less impactful,” said Ajit Mishra, VP Research at Religare Broking. Data indicating a third vaccine dose boosted protection against the Omicron variant of the coronavirus up to over 70%, lifted the mood in world markets. Investors are gauging a slew of economic data and possible rate hikes, with inflation worries weighing on domestic markets, Mishra added. Retail data is due at 1200 GMT, and a Dec. 6-8 poll of 39 economists forecast November consumer price inflation at 5.10%, higher than 4.48% in October.
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