Key stock indices Sensex and Nifty declined over half a per cent on Thursday due to selling in financials, auto and realty shares after five-month high inflation fanned rate hike fears.
A weak rupee and rising crude prices also impacted the market sentiment, traders said.
The 30-share BSE Sensex declined 390.58 points or 0.68 per cent to settle at 57,235.33. The broader NSE Nifty fell 109.25 points or 0.64 per cent to end at 17,014.35.
Wipro was the top loser in the Sensex pack, shedding 7.03 per cent, followed by SBI, L&T, ICICI Bank, Asian Paints, Bajaj Finance and HDFC twins.
On the other hand, HCL Tech, Sun Pharma, Dr Reddy’s Reliance Industries and Ultra Tech Cement were among the gainers, rising up to 3.19 per cent.
Vinod Nair, Head of Research at Geojit Financial Services, “Retail inflation persisting above the desired levels has been a major cause of concern for the Indian economy. This, coupled with declining industrial production in August may not be taken well by the ..
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