Equity indices erase gains ahead of key data release; crude prices rebound

The key Indian equity indices pared their initial gains to trade marginally lower during the afternoon session on Monday, as investors turned cautious ahead of the release of key macro-economic indicators.

The government would release the Consumer Price Index (CPI) for October and the industrial production data for September later in the day. The CPI data for September stood at 3.77 per cent, up from 3.69 in August.

Also, rebound in global crude oil prices and depreciation in the rupee weighed on the indices during the day. Price of Brent crude oil rose around $1.42 per barrel to $71.60 on Monday.

At 12.49 p.m., the Nifty50 on the National Stock Exchange stood at 10,578.25 points, lower by 6.95 points or 0.07 per cent from the previous close of 10,585.20 points.

Similarly, the S&P BSE Sensex, which had opened at 35,287.49 points, traded at 35,111.72, down 46.83 points or 0.13 per cent from the previous close of 35,158.55 points.

So far, it has touched an intra-day high of 35,333.22 and a low of 35,074.48 points.

--IANS

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