Sensex tanks 92 points on inflation woes

Key benchmark indices in stock markets traded under pressure taking cues from subdued trading activity in global stocks.

The market topped the key 33000-level multiple times only to make a close below it. The BSE Sensex fell 91.69 points, or 0.28%, to close at 32941.87.

On the other hand, Nifty ended down 38.35 points, or 0.38%, ending at 10186.60, after shutting between 10248 and 10175.55.

Larsen and Toubro fell 2.46%, PowerGrid moved down 2.20%, Asian Paints lost 1.77%, TCS ended down 1.53%, ONGC slipped 1.25% and Sun Pharma tanked 1.19%. Dr Reddy’s, Tata Steel, Tata Motors, Adani Ports, ITC, HDFC Bank, SBI and Coal India were among other losers.

Macro-economic data, showing a risk in India’s inflation last month also added to investor worries. Inflation based on consumer price index (CPI) accelerated to 3.58% in October 2017, mainly driven by higher prices of food and fuel.

Additionally, global cues like uncertainty over US tax reform, slowdown in Chinese factory output and growing political issues in the UK weaned investors away from placing more bets.

Share sale by foreign portfolio investors wasworth a net Rs 233.58 crore on Monday. Domestic institutional investors also let go of shares net Rs 268.77 crore.

Bombay Stock Exchange - BSE

National Stock Exchange of India Ltd (NSE)