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Sensex falls 92 pts to close below 33,000 on inflation worries

Press Trust of India  |  Mumbai 

The today dropped by 92 points to end at three-week low of 32,941.87 points after retail hitting a seven-month high in October dampened expectations of a rate cut by the Reserve

Besides, at the wholesale level too rose to six-month high of 3.59 per cent in October as the prices of food articles rose.

Lower trend at other Asian following a tepid lead from the prompted participants to trim their holdings.

Sentiments suffered a jolt after retail climbed to 7-month high in October, dampened hopes of a cut in by the Reserve at its upcoming policy meet early next month, brokers said.

The after a better start at 32,990.03, quickly regained the key 33,000-mark to hit a high of 33,126.55 on value-buying at select counters and recovery in the rupee at the outset.

However, emergence of selling at every rise wiped off initial gains and the index finally settled 91.69 points, or 0.28 per cent down at 32,941.87, its weakest closing since October 26.

The broader 50-issue NSE Nifty dropped 38.35 points, or 0.38 per cent, to close at 10,186.60 after shuttling between 10,248 and 10,175.55.

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

First Published: Tue, November 14 2017. 15:57 IST