Reuters Market Eye - The BSE Sensex and the Nifty fall over 1.5 percent as worried foreign investors reduce their pace of purchases, raising concerns that momentum will continue to wane after the benchmark hit a record high on November 3.
Foreign institutional investors (FIIs) bought shares worth 800 million rupees on Wednesday compared with more than 10 billion rupees each on Monday and Tuesday.
FIIs have bought over 362 billion rupees worth of Indian cash shares since August, sparking a rally in Indian shares since their 2013 lows hit on August 28.
Indian shares also weighed down as Asian stocks stumble and the dollar stands tall after minutes from the U.S. Federal Reserve's October meeting hints at stimulus tapering.
Among blue chip shares ITC Ltd falls 2.4 percent while HDFC Bank Ltd is down nearly 2 percent.
(Reporting by Abhishek Vishnoi)
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app