Sensex down 81 pts as IIP & inflation data dim interest rate cut hopes

Update: 2013-03-13 22:58 GMT
Falling for the second day, the Bombay Stock Exchange (BSE) benchmark Sensex on Tuesday ended 81.29 points lower at 19,564.92 on selling in consumer durables, realty and banking shares as higher-than-expected IIP and rising retail inflation data tempered hopes of an interest rate cut by RBI next week.

Narrowly mixed global cues with downward bias also had a negative impact on the domestic markets, traders said.

After a firm start at 19,697.84, the S&P BSE 30-share Sensex tumbled by 81.29 points, or 0.41 per cent to 19,564.92.

During trading, it had touched the day's low of 19,505.75 on heavy selling in interest-sensitive stocks. On Monday, the index had fallen by 37 points, snapping a four-day upmove.

In Sensex, 21 stocks fell led by HDFC Bank, ICICI Bank, HDFC, Bajaj Auto, L&T and Bhel. Infosys, Bharti Airtel and Tata Power also reported losses. On the gainers side, ITC, RIL and Tata Motors ended higher.

The National Stock Exchange index Nifty on Tuesday dropped by 28.25 points, or 0.48 percent to end at 5,914.10.

It shuttled between 5,952 and 5,893.65 range intra-day.


Rs INCREASES BY 23P AGAINST $ TO 54.18

After taking a day's respite, the Indian rupee continued its upward march and rose by 23 paise to close at 54.18 against the Greenback on fresh dollar selling by exporters amid persistent capital inflows.

However, weakness in domestic equities and firm dollar overseas restricted the rupee rise, a forex dealer said.

The rupee commenced higher at 54.30 a dollar from last closing of 54.41 and moved erratically on alternate bouts of buying and selling in a range of 54.17 and 54.40 before ending at 54.18, showing a rise of 23 paise or 0.42 pct.

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