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Inflation, caution ahead of Karnataka poll results depress markets

IANS  |  Mumbai 

Higher data and caution ahead of election results kept the key Indian equity markets subdued on Monday afternoon.

India's wholesale rate rose to 3.18 per cent in April from 2.47 per cent in the previous month, official data showed here on Monday.

According to market observers, heavy selling was witnessed in consumer durables, auto and capital goods stocks.

At 1.56 p.m., the wider 50-scrip Nifty of (NSE) was trading at 10,781.85 points -- down 24.65 points or 0.23 per cent from the previous close of 10,806.50 points.

The Sensex of the BSE, which opened at 35,555.83 points, was trading at 35,490.26 points (1.56 p.m.), lower by 45.53 points or 0.13 per cent from the previous day's close at 35,535.79 points.

The Sensex touched a high of 35,642.72 points and a low of 35,456.56 points in the trade so far.

The market breadth was bearish with 1,752 declines and 790 advances.

So far, the major gainers on the were Dr Reddy's Lab, NTPC, Sun Pharma, and State Bank of India, while (DVR), Tata Motors, Mahindra and Mahindra, and were the major losers.

On the NSE, the top gainers were NTPC, and The major losers were Titan, Zee Entertainment and Indusbulls Housing Finance.

--IANS

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, May 14 2018. 14:22 IST
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