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Sensex closed lower by 162 points, or 0.47%, to 34,184, while the Nifty fell 61 points, or 0.58%, to close at 10,492. Shares, rupee and bond prices declined on Wednesday following losses in global equity markets after hawkish comments from US Federal Reserve chair Jerome Powell. The new Fed chief said the outlook for the US economy had strengthened since December, and that inflation appeared to be moving up to the target, raising prospects of more rate hikes. Traders are also cautious ahead of GDP data due to be released after 5.30 pm. Punjab National Bank shares declined 5.13% to Rs93. Binani Industries Ltd shares rose 5% to Rs117. DLF Ltd shares were up 1.5% at Rs225. Dhabriya Polywood Ltd rose 2.49% to Rs133.
Asian shares extended losses as weak Chinese Japanese manufacturing data revived worries