Share of rate sensitive sectors mainly real estate and banking are under pressure in noon deals erasing their early morning gain after WPI inflation rose at the fastest pace for six months in August.
HDIL, Indiabulls Real Estate and DLF from real estate sector have declined 4-10%, while Canara Bank, Punjab National Bank and Federal Bank from banking space trading lower by 2% each on the BSE.
The BSE banking share index Bankex, was up 38 points at 11,627 at 1310 hours. The index hit high of 12,003 in morning deals; have lost 376 points from intra-day high level.
A higher inflation figure dim the prospects for an interest rate cut by the Reserve Bank of India at its quarterly policy review meeting on 20 September.
The Wholesale Price Index (WPI) based inflation rose to a six-month high of 6.1% in August against 5.79% in July, according to the data released by Ministry of Commerce and Industry today.
HDIL, Indiabulls Real Estate and DLF from real estate sector have declined 4-10%, while Canara Bank, Punjab National Bank and Federal Bank from banking space trading lower by 2% each on the BSE.
The BSE banking share index Bankex, was up 38 points at 11,627 at 1310 hours. The index hit high of 12,003 in morning deals; have lost 376 points from intra-day high level.
A higher inflation figure dim the prospects for an interest rate cut by the Reserve Bank of India at its quarterly policy review meeting on 20 September.
The Wholesale Price Index (WPI) based inflation rose to a six-month high of 6.1% in August against 5.79% in July, according to the data released by Ministry of Commerce and Industry today.
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