Sensex, Nifty end lower for 2nd day; IT stocks drag

Image
Reuters
Last Updated : Jan 31 2017 | 4:07 PM IST

(Reuters) - Indian shares fell for a second straight session on Tuesday, as IT firms slumped on worries of stricter H-1B visa rules, while the immediate focus turned to the government's annual budget due on Wednesday.

There was little impact from the Economic Survey by the finance ministry forecasting India's economy would grow by between 6.75 and 7.5 percent in the coming fiscal year.

The broader Nifty ended down 0.83 percent at 8,561.30, while the benchmark Sensex closed 0.70 percent lower at 27,655.96.

The Nifty IT index fell as much as 5.41 percent to its lowest since Nov. 24, 2016. Infosys Ltd and Tata Consultancy Services Ltd were among the top losers.

(Reporting by Darshana Sankararaman in Bengaluru; Editing by Sunil Nair)

Disclaimer: No Business Standard Journalist was involved in creation of this content

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

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

More From This Section

First Published: Jan 31 2017 | 3:56 PM IST

Next Story