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Indian shares slide on inflation fears, rupee at record low

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BENGALURU — Indian shares fell on Wednesday after a four-session rally, weighed down by losses across sectors, as worries about high oil prices and inflation returned to the forefront.

The NSE Nifty 50 index fell 0.79% to 15,724.5, as of 0409 GMT, and the S&P BSE Sensex slipped 0.81% to 52,748.04. The rupee dropped 0.23% to a record low of 78.96 per dollar.

Dampening sentiment further across Asian equities was overnight data that showed the U.S. consumer confidence index dropped to its lowest since February 2021.

The Nifty Bank index slid 1.4%, while the Nifty FMCG index fell 1.3%. (Reporting by Chris Thomas in Bengaluru; Editing by Rashmi Aich)



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