Sensex, Nifty log first fall in 3 days; Adani Ports, CIL drag

14 November, 2017, 18:56 | Author: Leticia Walters
  • Sensex Nifty trade in red RCom among top losers

Retail inflation has hit seven months high.

The Bombay Stock Exchange Sensex closed 91.69 points lower at 32,941.87, while the National Stock Exchange Nifty50 fell 38.4 points to end at 10,186.6.

Official data released on Tuesday showed that India's annual rate of inflation based on wholesale prices (wholesale price index) rose to 3.59 per cent in October due to an exponential rise in food prices.

Indian shares ended lower on Tuesday as accelerating inflation reduced the possibility of the central bank cutting interest rates at its next policy meeting.

Major losers in the 30-share index were Tata Motors (3.68%), Coal India (2.70%), Housing Development Finance Corporation (2.53%), Adani Ports and Special Economic Zone (2.33%), Sun Pharmaceutical Industries (2.09%), and Oil & Natural Gas Corporation (2.08%).

Market breadth was in the favour of gainers, with about 2 stocks advancing to every 1 stock that declined.

"Weak Asian cues also negatively influenced trading sentiments", Jasani added. "Global cues were not helping either amid uncertainty over USA tax reform, slow down in Chinese factory output and growing political issues in UK", Vinod Nair, Head of Research, Geojit Financial Services said.

Weakness rubbed off on broader markets, with mid-cap and small-cap indices falling by up to 0.22 per cent.

The loss in BSE capital goods was maximum at 1.41 per cent, followed by telecom, infrastructure and PSU.

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