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Indian shares end lower for seventh session; await RBI policy

Thursday,   29-Sep-2022   04:30 PM (IST)

Indian shares ended lower for seventh straight session on Thursday, dragged by tech stocks, ahead of the central bank's policy outcome on Friday amid lingering fears of a global recession. The NSE Nifty 50 index fell 0.24% to 16,818.10, while the S&P BSE Sensex dropped 0.33% to 56,409.96. Both the indexes saw their worst losing streak since mid February. Investors pedalled into another cycle of selling on Thursday as the dollar tightened its hold on the currency markets, while recession fears sapped stocks. Foreign institutional investors have sold nearly 106.97 billion Indian rupees ($1.31 billion) worth equities so far into the week until Wednesday, National Stock Exchange data showed. The Nifty and Sensex are down nearly 3% so far this year. The Nifty IT index fell 0.9%, while the energy index dropped 0.8%. Oil & Natural Gas Corp was the top Nifty 50 gainer, rising 3.4%, while Asian Paints the top loser, falling 5.2%.