Indices snap 3-day winning streak on weak global cues; Sensex slips 1.3%

US tech rout, Ukraine crisis hit sentiment

India’s benchmark indices declined on Thursday, snapping a three-day winning streak amid weak global cues. Downbeat earnings by global technology firms, tensions between Russia and Ukraine, and the prospect of a rate hike by the US Federal Reserve prompted investors to take profits off the table following the latest upmove.

The Sensex fell 770 points, or 1.3 per cent, to end the session at 58,788, while the Nifty closed at 17,560 with a decline of 220 points, or 1.2 per cent.

Foreign portfolio investors (FPIs) sold shares worth about Rs 1,600 crore on Thursday; their domestic counterparts, too, were net-sellers