Nagpur: Indian shares fell on Wednesday after strong economic data from the U.S. kept investors worried that central banks would have to keep raising interest rates, while markets waited for minutes from the Federal Reserve’s latest monetary policy meeting, according to Economic Times.
The Nifty 50 index was down 0.81% at 17,682.95, while the S&P BSE Sensex fell 0.78% at 60,200.24 as of 09:51 a.m. IST.
Twelve of the 13 major sectoral indices fell, with high-weightage financials dropping 0.75% and information technology stocks losing nearly 1%, respectively.
All 10 constituents of the IT index logged losses.
Global markets fell after an unexpectedly strong reading of S&P Global’s composite purchasing managers’ index (PMI) showed that the U.S. economy was not cooling.
