Indian shares fall as rupee continues to slide; Axis Bank drops 4%

PB Fintech

16/12/2025 07:04

** India's Nifty 50 .NSEI and Sensex .BSESN down 0.5% each, set for second consecutive session of losses

** Uncertainty over a potential India-U.S. trade deal weighing on stocks, propelling foreign outflows and weaker rupee, say analysts

** Indian currency declines past 91 against U.S. dollar for the first time

** Thirteen of the 16 major stock indexes down; small-caps .NIFSMCP100 and mid-caps .NIFMDCP100 down 0.7% and 0.8%, respectively

** Investors await U.S. non-farm payrolls and inflation data due this week for cues on future rate action by Federal Reserve

** Information technology .NIFTYIT companies, which get a substantial chunk of revenue from United States, down 1.1%

** Axis Bank AXBK.NS drops 4%, among top two losers on Nifty 50, as Citi says pressure on net interest margins to persist in Q3

** PB Fintech PBFI.NS slides 5.5% after multiple media reports say government's proposed insurance bill to cap commissions for insurance agents, intermediaries

 (Reporting by Vivek Kumar M)

 ((VivekKumar.M@thomsonreuters.com;))