Sensex, Nifty End Lower As IT Stocks Decline On Profit Taking

Indian shares fluctuated before finishing slightly lower on Tuesday as investors awaited speeches by central bank officials at the Davos World Economic Forum meeting 2024 for important clues to the rate outlook.

Weak global cues, a stronger dollar and an uptick in Treasury yields weighed on sentiment following cautious comments from ECB policymakers.

Traders looked ahead to Federal Reserve Governor Christopher Waller’s speech later in the day, whose dovish turn in late November helped to send markets soaring.

The benchmark S&P BSE Sensex ended the session down 199.17 points, or 0.27 percent, at 73,128.77.

The broader NSE Nifty index settled 65.15 points, or 0.29 percent, lower at 22,032.30.

IT stocks fell the most as investors locked in profits after recent sharp gains post their earnings announcements.

Infosys, Wipro and HCL Technologies all fell around 2 percent.

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