BENGALURU, Sept 28 (Reuters) – Indian shares closed lower for the first time in four sessions on Tuesday, as private banks and technology stocks dropped, with default risks surrounding China Evergrande Group denting sentiment further.
Trading through the session was volatile, as shares recovered from a more than 1% drop and flitted between positive and negative territories. The Nifty volatility index (.NIFVIX) was up 2.7%.
Concerns around China Evergrande’s (3333.HK) debt crisis, and higher U.S. bond yields and crude prices were acting as “key headwinds” in global sentiment, said Vinod Nair, head of research at Geojit Financial Services.
Telecom operator Bharti Airtel (BRTI.NS) was the biggest loser on the benchmark index, down 3.7%.
State-run power utility NTPC (NTPC.NS) also surged 4% after it confirmed winning 1.9 GW of solar projects under the Central Public Sector Undertaking (CPSU) scheme.
Reporting by Soumyajit Saha in Bengaluru, additional reporting by Vishwadha Chander; editing by Uttaresh.V
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