Further fall on bourses for 2nd day on late profit booking
Banking, oil & gas and pharma stocks down amid lingering worries over inflation
Indian equities open negative; Sensex, Nifty indices down 1.5% each
Feeble global cues weighing on sentiment
- BSE Sensex ended 314.04 pts to 60,008.33
- NSE Nifty declined by 100.55 pts to 17,898.65
- UK's rising annual inflation rate to 4.2% from 3.1% dampened investor moods
- Robust US retail sales data failed to cheer mkts
- Auto stocks in focus on improving supply position on semiconductors
- Maruti, Tech Mahindra, NTPC, PowerGrid, ITC gained
- RIL, HDFC twins, Axis Bank, Kotak Bank, Airtel in the red
Mumbai: Key stock indices Sensex and Nifty declined by more than half a per cent for a second straight day on Wednesday due to profit booking in banking, oil & gas and pharma stocks amid lingering worries over inflation.
The 30-share index ended 314.04 points or 0.52 per cent lower at 60,008.33 as 20 of its components ended with losses.
The index moved between a high of 60,426.61 and a low of 59,944.77 during the day. The broader NSE Nifty declined by 100.55 points or 0.56 per cent to close at 17,898.65.
"Robust US retail sales data failed to inspire global markets as domestic indices were seen trading with a negative bias to close deep in the red. UK's rising annual inflation rate reported at 4.2 per cent in October from 3.1 per cent a month ago, has begun to sour investor moods, adding to the existing inflationary worries. The auto sector was in focus as reports suggested relief in chip & semi-conductor shortages," said Vinod Nair, head (research) at Geojit Financial Services.
"Markets traded volatile in a range in continuation to a prevailing consolidation phase. Profit taking in the final hours pushed the index in red. Feeble global cues are weighing on sentiment and there's nothing much to cheer on the domestic front as well. Indications are in the favour of further slide but the pace would be gradual," Ajit Mishra, VP - Research, Religare Broking said.
Axis Bank was the top loser in the Sensex pack, shedding around 2 per cent. Reliance Industries declined by 1.91 per cent, Kotak Bank by 1.51 per cent, Bharti Airtel by 1.39 per cent and Titan by 1.2 per cent.
