FX.co ★ Sensex, Nifty Drift Lower In Early Trade

Indian stocks fell on Wednesday in line with global markets, as uncertainties lingered around U.S. President Trump's policy direction and the Federal Reserve's stance. Market sentiment took a hit after official data indicated a significant rise in India's consumer price inflation in October, marking the highest level in over a year due to increasing food prices.

Consumer prices increased by 6.21% annually in October, surpassing the 5.49% rise recorded in September and exceeding the anticipated rate of 5.81%.

The S&P BSE Sensex index fell by 254 points, or 0.3%, reaching 78,420 in early trading, following a decline of over 1% in the previous session, driven by concerns over Foreign Institutional Investor (FII) outflows and disappointment with a weak domestic earnings season.

Meanwhile, the broader NSE Nifty index dropped by 120 points, or 0.5%, landing at 23,762. Among individual stocks, Tata Steel, Eicher Motors, Hero MotoCorp, Mahindra & Mahindra, and BEL saw decreases of 2-3%, while NTPC gained 1.4% and SBI Life rose by 0.5%.