Sensex, Nifty fall due to decline in HDFC, ICICI Bank; Vedanta down more than 6%

Asian shares fell following a slide on Wall Street as investors considered a longer period of higher interest rates. Benchmarks across the region fell, with shares in Japan, Australia and South Korea falling.

The S&P 500 index fell 1.5% and the Nasdaq 100 lost 1.6% on Tuesday, as Wall Street’s fear gauge — the CBO Volatility Index, or VIX — fell to a four-month low in May after U.S. consumer confidence. Reached the highest level from the end. US equity contracts rose in early Asian trading.

Tech giants, namely Apple Inc., Microsoft Corp., Inc., and Google-parent Alphabet Inc., pressured U.S. stock gauges, pushing the tech sector down more than 10% from its July peak due to the threat Gave. Of strict policy.

Brent crude prices were trading above $93 a barrel and WTI crude was above $90. The yield on 10-year US bonds was trading at 4.52%, and Bitcoin was below the $27,000 level.

At 8:05 am, the GIFT Nifty, an early indicator of the performance of the Nifty 50 index in India, was up 1 point, or 0.01%, at 19,733.5.

India’s benchmark stock indices closed with losses on Tuesday after opening with modest gains. Telecom and industrials sectors advanced, while information & technology and banks shares were under pressure.

The S&P BSE Sensex fell 78.22 points or 0.12% to 65,945.47, while the NSE Nifty 50 fell 9.85 points or 0.05% to 19,664.70.

Foreign investors remained net sellers of Indian equities for the sixth consecutive session. According to provisional NSE data, foreign portfolio investors sold shares worth Rs 693 crore. Domestic institutional investors remained net buyers and raised equity worth Rs 715 crore.

On Tuesday, the Indian rupee weakened by 9 paise and closed at 83.24 against the US dollar.

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