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Indian shares fell sharply on Wednesday, as higher bond yields and a surge in oil prices following hawkish Fed comments and due to heightened tensions in the Middle East stoked concerns that global interest rates will likely stay higher for longer.
Indian shares were flat to slightly higher on Tuesday, with healthcare and metal stocks leading the surge. The benchmark S&P BSE Sensex was up 53 points, or 0.
On the sectoral front, Oil & Gas, Capital Goods, Telecom, PSU Bank, Power and Realty were down 1-2 percent. However, pharma index was up 0.5 percent.
Indian shares ended a choppy session slightly lower on Tuesday due to weak global cues and anxiety ahead of the general election results, due next week. The Lok Sabha exit poll results will be announced post the completion of all seven phases on June 01.
FIIs bought Rs 13,170 crore and sold Rs 9,938 crore. Meanwhile, DIIs picked up Rs 14,739 crore in shares and dropped Rs 14,674 crore worth of equity in the session