Sensex, Nifty To Open Flat As Investors Digest Inflation Data

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Retail inflation has hit seven months high.

Nifty too closed below the psychological mark of 10,200, losing 38.35 points, settling on 10,186.60.

The benchmark Sensex on Monday ended lower by 0.84 per cent or 281 points at 33,033.56, breaking its two-session gaining spree following a fall in heavyweights like Adani Ports, Coal India, L&T and RIL.

Mumbai, Nov 14 The market topped the key 33,000 level multiple times today, but closed below that threshold after rising inflation numbers squeezed the headroom for an interest rate cut at RBI's policy review next month. India's wholesale price inflation stood at 3.59% for October, a rise from 2.6% in September.

The BSE market breadth was bearish - 1,629 declines and 1,082 advances.

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IPOB said, "Wild, unfounded and foolish accusations about IPOB intending to disrupt the polls on Saturday as peddled by politicians, is not only baseless but completely unfounded".

"Weak Asian cues also negatively influenced trading sentiments", Jasani added.

Weakness rubbed off on broader markets, with mid-cap and small-cap indices falling by up to 0.22 per cent. The Indian rupee opened higher by 9 paise at 65.33 per dollar on Tuesday versus 65.42 on Monday.

Uncertainty over United States tax reform, slowdown in Chinese factory output and growing political issues in the United Kingdom weaned investors away from placing more bets.

On the other hand, the S&P BSE consumer durables index rose by 129.50 points, automobile index by 57.54 points and realty index by 16.85 points.

Among the top Sensex losers, Larsen and Toubro fell 2.5 percent, Tata Consultancy Services dropped 1.7 percent, Power Grid lost 2.6 percent while Asian Paints shed 1.8 percent.

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