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Sensex, Nifty end in red after last hour sell-off

IANS  |  Mumbai 

Key indices Sensex and Nifty succumbed to the final-hour selling pressure after trading in the green for the better part of Wednesday's session on account of easing inflation giving way to expectations of further rate cut.

IT stocks logged strong gained, while heavy selling in the auto, and dragged the markets into the red.

"Despite cooling of CPI inflation in January to 2.05 per cent and a pick-up in Industrial Production in December 2018 by 2.4 per cent failed to create positive momentum in the market," said Vinod Nair, Head of Research,

"Given the mixed Q3 results, market is factoring further earning downgrades, leading to outflows from FIIs and DIIs..."

The closed 120 points down at 36,034.11 from its previous close of 36,153.62, while the Nifty settled down 37.75 points or 0.35 per cent at 10,793.65.

gained the most on Sensex, up 2.18 per cent followed by HDFC, HCL Tech, and ITC.

Among the top losers were ONGC, State Bank of India, Power Grid, and

--IANS

ravi/nir

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

First Published: Wed, February 13 2019. 16:30 IST
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