FILE PHOTO: A man walks past the Bombay Stock Exchange (BSE) building in Mumbai, India, May 20, 2019.
REUTERS/Francis MascarenhasBENGALURU (Reuters) - Indian shares slipped on Wednesday, weighed down by financials and information technology stocks, with investors also worried over high valuations following a recent rally.
The blue-chip NSE Nifty 50 index fell 0.48% to 15,500.85 by 0503 GMT, while the benchmark S&P BSE Sensex shed 0.64% to 51,597.22.
“In the medium term, the market should still be positive as economic growth will pick up gradually with capex cycle picking up.
In Asian markets, shares edged up to near three-month highs and global equities held steady near a record, as data showing higher U.S. manufacturing activity in May cheered investors looking for signs of a continued rebound in the world’s largest economy.
Francis Mascarenhas BENGALURU, ”, Neeraj Dewan, HDFC
Bombay Stock Exchange, REUTERS, BSE, Quantum Securities, Software, Infosys, HDFC, ITC
Mumbai, India, COVID