Sensex, Nifty Track Asian Peers Lower On Rate Hike Worries

Indian shares slid on Wednesday, led by losses in technology and financial stocks, while worries that the US central bank will keep raising interest rates dented investor sentiment.

The NSE Nifty 50 index was down 0.47 per cent at 17,572.65, as of 0353 GMT, while the S&P BSE Sensex slipped 0.53 per cent to 58,881.95.

Asian peers also fell as strong US economic data added to expectations the U.S. central bank would not be slowing the pace of interest rate hikes any time soon. Wall Street ended lower on Tuesday.

In Mumbai, the Nifty IT index and the Nifty Bank index fell as much as 0.9 per cent each.

(Reuters)