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Indian shares closed lower on Wednesday, with the Nifty 50 snapping a six-day winning streak, as pharmaceuticals and energy stocks dragged the market lower, although a stronger finish by public sector banks helped limit losses. <\/p>\n
The NSE Nifty 50 index ended 0.12% at 11,308.40, while the S&P BSE Sensex fell 0.10% to 38,369.63.<\/p>\n
While Indian equities have firmed in the last few sessions, with the Nifty 50 gaining nearly 4% in the last six sessions, analysts said investors are watching uncertainties around the big U.S. fiscal stimulus and holding back from making big bets. <\/p>\n
Asian markets too slipped on Wednesday as doubts grew about whether U.S. lawmakers would reach an agreement on the coronavirus fiscal package to support its struggling economy.<\/p>\n
Meanwhile, Covid-19 infections in India reached 2.33 million on Wednesday after rising by more than 60,000 over the previous day, government data showed. The death toll increased to 46,091.<\/p>\n
In Mumbai trading, the Nifty pharmaceutical index extended losses and ended 1.55% lower, led by a more than 2% drop in drugmakers Cipla Ltd and Sun Pharma Ltd each. <\/p>\n
Among gainers, the Nifty PSU Bank index ended up 2.7%, led by a 4.33% jump in State Bank of India. <\/p>\n
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