Indian shares fell for a third day running on Wednesday, with rate-sensitive financials and auto stocks leading loses after data showed India’s retail inflation soared to a 17-month high of 6.95 percent in March, much above the RBI’s upper tolerance band.
This is for the third straight month that inflation has stayed above the RBI’s 2-6 percent tolerance band.
Separate data showed a slightly uptick in India’s industrial output in February and core U.S. inflation data rose less than expected in March, helping limit the downside in the broader market.
The benchmark S&P BSE Sensex ended the session down 237.44 points, or 0.41 percent, at 58,338.93 while the broader NSE Nifty index slipped 54.65 points, or 0.31 percent, to finish at 17,475.65.
Tata Motors, Dr Reddy’s Laboratories,, HDFC Bank, HDFC and Maruti Suzuki India all fell around 2 percent while Sun Pharma, ITC, UPL, Apollo Hospitals and ONGC rose 2-3 percent.
Sensex, Nifty End Lower For Third Day
2022-04-13 10:50:59
