Indian shares lower as metals tumble again
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BENGALURU - Indian shares fell on Wednesday after posting a near 2% jump in the previous session, as investors fretted over rising inflation and aggressive policy tightening by central banks,
The NSE Nifty 50 index fell 0.9% to 15,493.55, as of 0358 GMT, while the S&P BSE Sensex dropped 0.9% to 52,062.16. Both indexes had clocked their best session in three weeks on Tuesday.
India's 10-year benchmark yield was down marginally to 7.41%, from its previous close of 7.48%.
Asian stocks fell in volatile trade, failing to extend an overnight Wall Street rally, while the Japanese yen hit a fresh 24-year low against the dollar. [MKTS/GLOB]
Metal stocks declined in India, after a short rebound on Tuesday, with the Nifty Metal index trading 3.2% lower.
The Nifty energy index lost 1.6%, with Oil and Natural Gas Corp and Gas Authority of India down 4%, each.
Brent crude was down at $113.32 per barrel, after a push by U.S. President Joe Biden to bring down soaring fuel costs. [O/R]
