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Market turns choppy, trades in loss on inflation fears
The market switched direction many
times today as the Sensex fell into the loss zone, unnerved by
a rise in both CPI and WPI inflation.
Investors now turned their focus to September quarterly
earnings due today.
The 30-share BSE index after hovering between 33,126.55
and 32.971.78 hit 32,941.78 at 1215 hours, down 91.78 points,
or 0.28 per cent.
The broader NSE Nifty too traded down by 33.50 points, or
0.33 per cent, at 10,191.45 .
Consumer inflation (CPI) jumped to a 7-month high of 3.58
per cent in October, driven by costlier food items,
Wholesale inflation (WPI) too spiked to 3.59 per cent in
October, from 2.6 per cent in September, official data showed
Notable losers include L&T (1.96 per cent), along with
PowerGrid, TCS and Asian Paints.
Foreign portfolio investors (FPIs) sold shares worth
a net Rs 233.58 crore yesterday, as per provisional data.
Domestic institutional investors (DIIs) also sold shares worth
a net Rs 268.77 crore.
Overseas, Asian markets wobbled as investors waited for
developments on the US tax reforms front.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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