Business

Sensex falters, easing further from record highs

  • Reuters, Mumbai
  • |
  • Updated: Mar 20, 2014 11:42 IST

A broker reacts as the stock prices fall at BSE building in Mumbai.


The BSE Sensex declines 0.3% and the broader Nifty falls 0.4%, retreating further from record highs hit on Tuesday.

Investors continue to take profit in recent outperformers: Axis Bank falls 1.7% after gaining 9.4% this month as of Tuesday's close and Larsen & Toubro falls 1.5% after surging 12.3% during the same period.

A fall in Asian shares also impacting sentiment after investors were jolted when Federal Reserve Chair Janet Yellen said the U.S. central bank might end its bond-buying programme this fall, and could start to raise interest rates around six months later.

Any signs of higher U.S. interest rates could impact foreign investor sentiment in India. Overseas funds bought Indian shares worth 10.7 billion rupees on Wednesday, to mark their 22nd buying session in the previous 23.

 

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