India's benchmark stock indices closed mixed after a volatile session on Wednesday.
The headline indices snapped five days of record gains as non-banking financial companies and private banks declined while fast-moving consumer goods and auto sectors rose.
European stocks and U.S. equity futures followed Asian shares lower after weak services industry data from China raised fresh concerns about the outlook for the global economy. The Stoxx Europe 600 Index fell about 0.5%, with miners leading the retreat on concern about waning mineral demand from China.
Contracts on the S&P 500 and Nasdaq 100 dipped, suggesting U.S. stocks may open lower when trading resumes after the Independence Day holiday. Initial losses in Chinese equities deepened, and the offshore yuan reversed an advance after the Caixin China services purchasing managers' index was weaker than expected.
The S&P BSE Sensex closed 33 points, or 0.05%, lower at 65,446.04, while the NSE Nifty 50 gained 10 points, or 0.05%, to end at 19,398.50.
ICICI Bank Ltd., ITC Ltd., Hindustan Unilever Ltd., Maruti Suzuki India Ltd., and Bajaj Auto Ltd. positively contributed to the change in the Nifty 50 Index.
Whereas, HDFC Bank Ltd., HDFC Ltd., Reliance Industries Ltd., Eicher Motors Ltd., and Axis Bank Ltd. weighed on the index.
The broader market indices outperformed their larger peers, with the S&P BSE MidCap gaining 0.68% and the S&P BSE SmallCap rising 0.62% at the close of trading on Wednesday.
Seventeen out of the 20 sectors compiled by BSE Ltd. advanced, with S&P BSE Fast Moving Consumer Goods gaining the most. S&P BSE Financial Services, S&P BSE Telecommunication, and S&P BSE Bankex declined.
The market breadth was skewed in favour of the buyers. About 1,967 stocks rose, 1,527 declined, and 132 remained unchanged on the BSE.
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