Indian Shares Close Lower on Thursday

The BSE Sensex closed 190 points lower at 60,860 on Thursday, shaving off gains from the week and tracking the decline in Wall Street overnight, as investors digested a batch of US economic data for hints on the Federal Reserve’s guidance and growth prospects for the world economy.

Rate-sensitive auto manufacturers led the losses in Mumbai, with Tata Motors down nearly 2% as Fed policymakers continued to support hawkish rhetoric.

In the meantime, Asian Paints tanked more than 3% after third-quarter profits missed their target, mainly due to a monsoon-induced hit to demand.

On the other hand, China’s reopening continued to support base metal prices and lift metallurgist shares in India, with Tata steel adding nearly 1%.