Indian stocks fell on Wednesday in line with global markets, as uncertainties lingered around U.S. President Trump's policy direction and the Federal Reserve's stance. Market sentiment took a hit after official data indicated a significant rise in India's consumer price inflation in October, marking the highest level in over a year due to increasing food prices.
Consumer prices increased by 6.21% annually in October, surpassing the 5.49% rise recorded in September and exceeding the anticipated rate of 5.81%.
The S&P BSE Sensex index fell by 254 points, or 0.3%, reaching 78,420 in early trading, following a decline of over 1% in the previous session, driven by concerns over Foreign Institutional Investor (FII) outflows and disappointment with a weak domestic earnings season.
Meanwhile, the broader NSE Nifty index dropped by 120 points, or 0.5%, landing at 23,762. Among individual stocks, Tata Steel, Eicher Motors, Hero MotoCorp, Mahindra & Mahindra, and BEL saw decreases of 2-3%, while NTPC gained 1.4% and SBI Life rose by 0.5%.
