March 23, 2018

Sensex down by 281 pts, 3-week-low

14 November 2017, 06:58 | Melvin Schneider

Sensex Nifty trade in red RCom among top losers

Sensex Nifty trade in red RCom among top losers

The barometer 30-scrip Sensitive Index (Sensex) of the BSE closed at 32,941.87 points - down 91.69 points or 0.28 per cent - from Monday's close.

Equity markets on Tuesday spiralled down further as Sensex lost nearly a 100 points to close below the 33,000-mark.

The markets turned negative after government data showed a rise in both consumer and wholesale inflation, according to Mint. "The weakness came on the back of dampening of possibility of the central bank cutting interest rates next month after inflation picked up in October", Deepak Jasani, Head, Retail Research, HDFC Securities, told IANS.

The broader markets also traded in line with benchmarks, with the Nifty Midcap falling 0.2 percent. The Indian rupee opened higher by 9 paise at 65.33 per dollar on Tuesday versus 65.42 on Monday.

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Inflation quickened to 3.58 percent in the month, the fastest pace in seven months, from 3.28 percent increase in September.

BSE Sensex was up by over 15 points or 0.05% at 33,048.60 while the wider Nifty was down by over 3 points or 0.03% at 10,221.95. "Global cues were not helping either amid uncertainty over United States tax reform, slow down in Chinese factory output and growing political issues in UK", Vinod Nair, Head of Research, Geojit Financial Services said.

Among the top Sensex losers, Larsen and Toubro fell 2.5 percent, Tata Consultancy Services dropped 1.7 percent, Power Grid lost 2.6 percent while Asian Paints shed 1.8 percent.

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