India's benchmark stock indices ended lower on Wednesday, dragged down by losses in banks and financial stocks, including HDFC twins, Axis Bank Ltd., and State Bank of India.
The headline indices snapped four days of gains and fell the most in two weeks.
European and Asian stocks fell, along with U.S. equity futures. The Stoxx Europe 600 headed for its lowest close since March, with China-exposed luxury-goods makers LVMH and Richemont being the biggest laggards.
Hong Kong's Hang Seng fell more than 2%, with a bear market on the horizon. The offshore yuan hit its weakest level versus the dollar in six months.
The S&P BSE Sensex closed 347 points, or 0.55%, lower at 62,622.24, while the NSE Nifty 50 declined 100 points, or 0.53%, to end at 18,534.40.
Asian Paints Ltd., Bharti Airtel Ltd., ICICI Bank Ltd., Kotak Mahindra Bank Ltd., and Sun Pharmaceutical Industries Ltd. were among the gainers on the Nifty 50.
Axis Bank Ltd., HDFC Bank Ltd., HDFC Ltd., Reliance Industries Ltd., and State Bank of India weighed on the index.
The broader market indices ended higher, with the S&P BSE MidCap rising 0.54% and the S&P BSE SmallCap gaining 0.68% at the close of market on Wednesday.
Eleven out of the 19 sectors compiled by BSE declined, while eight sectors advanced in trade, with S&P BSE Telecommunication gaining the most.
The market breadth was split between buyers and sellers. About 1,725 stocks rose, 1,784 declined, and 136 remained unchanged on the BSE.
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