BENGALURU: Indian shares fell on Wednesday, dragged by weakness in metals due to weak economic data from China and IT stocks on rate worries ahead of the US Federal Reserve’s policy decision.
The NSE Nifty 50 index settled 0.47% lower at 18,989.15, while the S&P BSE Sensex fell 0.44% to 63,591.33.
Eight of the 13 major sectors declined. Metals lost 1.43% and was the top sectoral loser, after data showed a contraction in factory activity in China, the top consumer of metals.
High-weightage IT stocks shed 0.78% ahead of Fed policy, due at 11:30 p.m. IST. While the Fed is widely expected to hold rates, Chair Jerome Powell’s commentary will be crucial.
IT stocks lost 3.8% last month due to weak results from major companies and fears of prolonged high rates in the United States, a key market.
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