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Rising Inflation Swamps Markets, Sensex Closes 81 Points Down

The bellwether indices of the Indian equity markets receded after a key macro-economic data showed an acceleration in inflation trends.

Published: 14th January 2016 04:13 PM  |   Last Updated: 14th January 2016 04:13 PM   |  A+A-

By IANS

MUMBAI: Diminishing hopes of an interest rate cut, coupled with caution over the third quarter results and thin volumes, depressed Indian equity markets during volatile trade on Thursday.

Consequently, a barometer index provisionally closed the day's trade down 81 points.

The bellwether indices of the Indian equity markets receded after a key macro-economic data showed an acceleration in inflation trends.

The rise in wholesale price index (WPI) diminished hopes of a rate cut by the country's apex bank and subdued investors' sentiments.

Caution over the third quarter (Q3) results season, long-liquidation positions and sliding Asian markets, too, dented sentiments.

Initially, both the bellwether indices opened deep in the red, following lower closing of the US markets on Wednesday and a further plunge in oil prices.

However, both indices soon pared their initial losses as healthy Q3 results, recovering European markets and short-covering restored investors' risk-taking appetite.

Value buying at lower levels, which was prompted by attractive prices, supported the markets' upward movement.

The barometer 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE) closed lower by 81 points.

Similarly, the wider 50-scrip Nifty of the National Stock Exchange (NSE) ended the day's trade in the red -- down by 19 points or 0.24 percent at 7,543.90 points.

The S&P BSE Sensex, which opened at 24,606.20 points, provisionally closed at 24,772.97 points (at 3.30 p.m.) -- down 81.14 points or 0.33 percent from the previous day's close at 24,854.11 points.

The Sensex touched a high of 25,018.46 points and a low of 24,473.22 points during the intra-day trade.

The S&P BSE market breadth favoured the bears -- with 1,861 declines and 823 advances.

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