Markets end lower on inflation concerns

HDFC Bank, ICICI Bank, Reliance Ind top losers

Benchmark share indices ended lower on Monday, amid weak European cues, weighed down by banks as rising inflation dashed hopes of further cuts in key policy rates by the central bank.

The Sensex provisionally ended down 97 points at 16,196 and the Nifty provisionally ended down 28 points at 4,901 .

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(Updated at 15:00hrs)

Markets extended losses in the late noon deals on the back of concerns over rising inflation. The Sensex has slipped 132 points to 16,170 and the Nifty is trading below 4,900, down 40 points at 4,889 levels.

Meanwhile, the Asian markets ended on a lacklustre note. The Hang Seng sliped 229 points to 19,735, Shanghai was down 14 points at 2,980. However, Nikkei closed higher by 20 points at 8,973.

The European markets are also exerting pressure on the domestic markets. CAC40 index is down 66 points at 3,063, DAX has shed 136 points to 6,443 and the FTSE is also down 90 points at 5,485 levels.