Indian shares ended lower on Wednesday as falling global commodity prices pushed metal shares such as Vedanta Ltd down, while consumer stocks such as ITC Ltd also weighed on the indexes. The broader NSE index closed 0.67 percent down at 10,118.05, its lowest in more than a month. The benchmark BSE index was down 0.55 percent at 32,760.44, a three-week low. Both the indexes posted their third straight day of losses.
Vedanta Ltd fell 4 percent, while ITC Ltd ended 1.1 percent down. Asian shares slipped on Wednesday after falling crude oil prices took a toll on Wall Street overnight. MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.6 percent. "Increasing oil prices and cut in the GST (a new nationwide sales tax) is raising doubts as to how it will impact the fiscal deficit of the country," said Vinod Nair, Head of Research at Geojit Financial Services.
The Nifty Metal index slipped 1.9 percent, tracking lower global commodity prices. Metal stocks Vedanta and Hindalco Industries Ltd fell 2.1 and 2.5 percent, respectively. Sun Pharmaceutical Industries Ltd dropped 2.3 percent after the drugmaker's September-quarter profit plunged 59 percent, hurt by rising competition in the generics market and greater pricing scrutiny in the United States. Oil refiners such as Hindustan Petroleum Ltd and aviation shares, including IndiGo Airlines' parent InterGlobe Aviation Ltd, jumped on plunging crude oil prices. Hindustan Petroleum rose 2.6 percent, while InterGlobe Aviation gained 3.3 percent.
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