BENGALURU: Indian shares fell on Wednesday, snapping a six-session winning streak, dragged by information technology stocks on fading hopes of early US interest rate cuts and energy stocks.
The NSE Nifty 50 fell 0.64% to 22,055.05, while the S&P BSE Sensex settled 0.59% lower at 72,623.09.
The Nifty 50 had gained as much as 0.24% in the first hour of trade to hit a record high for the third session in a row, before reversing gains in the final hours.
Nine of the 13 major sectors declined, with 37 of the Nifty 50 stocks logging losses.
A likely delay in rate cuts is a sentimental negative for global equities and IT stocks, but strong domestic inflows kept Indian equities resilient over the last six sessions, said Atul Suri, chief executive at Marathon Trends PMS.
Suri also expects bouts of profit booking to continue in the next few sessions, as seen on Wednesday.
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