AGL 5.27 Decreased By ▼ -0.13 (-2.41%)
ANL 8.75 Decreased By ▼ -0.04 (-0.46%)
AVN 76.62 Increased By ▲ 0.37 (0.49%)
BOP 5.22 Increased By ▲ 0.03 (0.58%)
CNERGY 4.44 Decreased By ▼ -0.04 (-0.89%)
EFERT 81.32 Increased By ▲ 0.22 (0.27%)
EPCL 49.39 Increased By ▲ 0.38 (0.78%)
FCCL 12.80 Increased By ▲ 0.10 (0.79%)
FFL 5.59 Decreased By ▼ -0.03 (-0.53%)
FLYNG 6.90 Decreased By ▼ -0.03 (-0.43%)
FNEL 4.67 Increased By ▲ 0.02 (0.43%)
GGGL 8.64 Increased By ▲ 0.04 (0.47%)
GGL 14.21 Increased By ▲ 0.06 (0.42%)
HUMNL 5.54 Increased By ▲ 0.05 (0.91%)
KEL 2.63 Increased By ▲ 0.04 (1.54%)
LOTCHEM 28.04 Increased By ▲ 0.33 (1.19%)
MLCF 24.05 Increased By ▲ 0.45 (1.91%)
OGDC 71.13 Decreased By ▼ -0.44 (-0.61%)
PAEL 15.34 Increased By ▲ 0.14 (0.92%)
PIBTL 4.87 Decreased By ▼ -0.04 (-0.81%)
PRL 16.08 Increased By ▲ 0.25 (1.58%)
SILK 1.13 Increased By ▲ 0.08 (7.62%)
TELE 9.07 Increased By ▲ 0.08 (0.89%)
TPL 7.09 Decreased By ▼ -0.07 (-0.98%)
TPLP 19.09 Decreased By ▼ -0.09 (-0.47%)
TREET 21.20 Increased By ▲ 0.06 (0.28%)
TRG 139.80 Increased By ▲ 3.30 (2.42%)
UNITY 16.77 Increased By ▲ 0.01 (0.06%)
WAVES 9.41 Increased By ▲ 0.26 (2.84%)
WTL 1.36 Decreased By ▼ -0.02 (-1.45%)
BR100 4,186 Increased By 30.5 (0.73%)
BR30 15,467 Increased By 131.3 (0.86%)
KSE100 41,819 Increased By 279.4 (0.67%)
KSE30 15,448 Increased By 82.9 (0.54%)
Follow us

BENGALURU: Indian shares ended lower for a third straight session on Tuesday as a surprise interest rate hike in Australia deepened worries around aggressive policy tightening ahead of a meeting of the domestic central bank.

The NSE Nifty 50 index closed 0.92% lower at 16,416.35 and the S&P BSE Sensex slipped 1.02% to 55,107.34.

The movement was in line with broader weakness in equities after a 50-basis-point rate increase by the Reserve Bank of Australia compounded concerns that hawkish central banks could tip the global economy into a recession.

The Indian stock market has seen volatile moves in the run-up to a central bank rate decision on Wednesday. Grappling with stubbornly high inflation, the Reserve Bank of India was expected to further tighten policy after its unscheduled rate hike in May.

Indian shares fall for second session as cement makers slump

The central bank will be likely to concentrate interest rate hikes over the coming months in a relatively short tightening cycle, to reach its terminal level early next year, a Reuters poll showed.

On Tuesday, the market was weighed down by broad-based losses, with banks, real estate and pharmaceutical stocks all losing more than 1%.

Beaten-down technology stocks closed 1.6% lower to take their losses for the year to more than 24%.

Financial services platform PB Fintech settled down 11.5% after it said the firm’s chief executive intends to sell 3.8 million shares through bulk deals on the stock exchange.

Consumer stocks fell for a third straight day, closing down 1.5%.

Among the few gainers, energy stocks on the Nifty settled 1.1% higher, led by a 5.1% jump in Oil and Natural Gas Corp.

Comments

Comments are closed.

Indian shares fall for third session ahead of central bank rate decision

Fiscal, monetary steps discussed

Dar meets Alvi to blunt IK’s assembly dissolution threat

Elections to take place ahead of Ramazan: Qureshi

Soybean consignments: FTO takes suo motu notice

US warns of Chinese influence in ME

Telenor may consider closing operations

Nepra not happy over ‘tactics’ aimed at blocking CTBCM

Textile value chain: APTMA demands restoration of ‘zero rating’

Business confidence negative: OICCI survey

Housing sector: SHE announces investing $50m in 3 years