Indian shares ended lower on Thursday, dragged down by banking stocks and index heavyweights TCS and RIL, as China tensions remained in focus. The Sentiment was also negative after global markets gave up gains despite the US Federal Reserve saying it would keep interest rates near zero.
The Sensex ended 323 points lower at 38,980 while the Nifty lost 88 points to settle at 11,516. Broader markets were also in the red with Nifty Midcap and Nifty Smallcap down 0.25 percent and 0.5 percent, respectively.
Among sectors, the Nifty Metal index lost 1.4 percent on concerns of economy revival while the banking and Fin Services indices fell over 1 percent each. However, Nifty IT and Nifty Pharma ended the day in the green.
Dr Reddy's, Zee, HCL Tech, Infosys and Maruti were the top gainers on the Nifty50 index while Hindalco, Tata Motors, Shree Cements, Bajaj Finserv and Bharti Infratel led the losses.
Technology firm Happiest Minds Technologies more than doubled in its stock market debut, underscoring strong investor interest in IT services firms during the COVID-19 pandemic.
First Published: IST