Sensex, Nifty end lower on Federal rate hike worries

Indian shares snapped two sessions of gains on Wednesday, tracking lower global markets after data showed rising US inflation and on comments from Fed officials rekindled prospects of an interest rate hike as early as June.

The Nifty dropped 0.26% to end at 7,870.15 points after falling 1% in the previous two sessions, while the Sensex ended down 0.27%, or 69 points at 25,704.61.

On the 30-share barometer, the top gainers were Golden Tobacco (20%), Tata Metali (19.94%), Aditya Birla Nuvo (5.44%), Piramal Enterprises (5.08%), Indiabulls Real Estate (4.96%) and Prestige Estates (4.36%). Among top losers were Hathway (6.05%), Monsanto (5.23%), Motherson Sumi (4.91%), Glaxosmithkline Consumer (3.87%) and United Spirits (3.23%).

(With Reuters inputs)