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Sensex ends 240 points lower ahead of inflation data release

Sensex ends 240 points lower ahead of inflation data release

Mumbai, Feb 12 (IANS) The BSE Sensex closed 240 points lower on Tuesday, ahead of the release of retail inflation and industrial production data.

After trading on a flat-to-negative note for most part of the session, the key indices slumped in the last hour of trade with heavy selling pressure on telecom, IT and finance stocks.

Markets anticipate a rise in the Consumer Price Index (CPI), the retail infation data in the month of January, analysts said. The government is scheduled to release the January data later in the day.

 

The Sensex closed at 36,153.62, lower by 241.41 points or 0.66 per cent than the previous close of 36,395.03 points.

It had opened at 36,405.72 points and touched an intra-day high of 36,465.40 points and a low of 36,113.91 points.

The Nifty50 on the National Stock Exchange settled 57.40 points or 0.53 per cent lower at 10,831.40 points.

In December, India's retail inflation in December eased to 2.19 per cent from 2.33 per cent in November due to lower fuel prices.

Geojit Financial Services' Head of Research Vinod Nair said: "Lack of positive triggers is impacting the sentiment of domestic equity market. India is underperforming in spite of improvement in the global market and appreciation in INR."

"Inflows have reduced this month due to muted Q3 results and outcome of general election. Expectation is that market momentum will reverse as economy stabilize post-election and borrowing cost reduce," he added.

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Sensex ends 240 points lower ahead of inflation data release

About Gopi Adusumilli

Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc. He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources. When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any. He can be reached at gopi@socialnews.xyz

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