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A man reacts as he looks at a screen displaying the Sensex results on the facade of the Bombay Stock Exchange (BSE) building in Mumbai, India, March 12, 2020. REUTERS/Francis Mascarenhas
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BENGALURU, March 2 (Reuters) – Indian shares fell on Wednesday after data showed the country’s economic growth missed estimates, with the escalating Ukraine crisis and surging crude oil prices further weighing on investor sentiment.
The blue-chip NSE Nifty 50 index (.NSEI) declined 1.02% to 16,621.80 by 0347 GMT and the S&P BSE Sensex (.BSESN) dropped 1.17% to 55,586.67 as markets resumed trading after a holiday.
India’s economy expanded 5.4% in the October-December quarter from a year earlier, data released after market hours on Monday showed, missing economists’ forecast of a 6% growth, amid heightened worries over surging crude oil prices and commodities after Russia’s invasion of Ukraine. read more
Oil prices rose above $110 a barrel on Wednesday, their highest since early July 2014, as sanctions on Russian banks hampered trade finance for crude shipments.
In Mumbai, Nifty’s financial services sector index (.NIFTYFIN) and the auto index (.NIFTYAUTO) were among the top losers, declining 2.2% and 1.8%, respectively.
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Reporting by Rama Venkat in Bengaluru; Editing by Subhranshu Sahu
Our Standards: The Thomson Reuters Trust Principles.
A man reacts as he looks at a screen displaying the Sensex results on the facade of the Bombay Stock Exchange (BSE) building in Mumbai, India, March 12, 2020. REUTERS/Francis MascarenhasRegister now for FREE unlimited access to Reuters.comBENGALURU, March 2 (Reuters) – Indian shares fell on Wednesday after data showed the country’s economic growth missed estimates, with the escalating Ukraine crisis and surging crude oil prices further weighing on investor sentiment.The blue-chip NSE Nifty 50 index (.NSEI) declined 1.02% to 16,621.80 by 0347 GMT and the S&P BSE Sensex (.BSESN) dropped 1.17% to 55,586.67 as markets resumed trading after a holiday.India’s economy expanded 5.4% in the October-December quarter from a year earlier, data released after market hours on Monday showed, missing economists’ forecast of a 6% growth, amid heightened worries over surging crude oil prices and commodities after Russia’s invasion of Ukraine. read more Oil prices rose above $110 a barrel on Wednesday, their highest since early July 2014, as sanctions on Russian banks hampered trade finance for crude shipments.In Mumbai, Nifty’s financial services sector index (.NIFTYFIN) and the auto index (.NIFTYAUTO) were among the top losers, declining 2.2% and 1.8%, respectively.Register now for FREE unlimited access to Reuters.comReporting by Rama Venkat in Bengaluru; Editing by Subhranshu SahuOur Standards: The Thomson Reuters Trust Principles.