Sensex falls 148 pts on inflation concerns, weak global cues | business | Hindustan Times
Today in New Delhi, India
Apr 25, 2017-Tuesday
New Delhi
  • Humidity
  • Wind

Sensex falls 148 pts on inflation concerns, weak global cues

business Updated: Oct 20, 2011 16:39 IST

The BSE benchmark Sensex on Thrusday fell 148 points on fresh selling in blue-chips, especially interest sensitive stocks, as food inflation jumped over double-digit and sparked fears of rate hikes amid weak markets globally.

The Bombay Stock Exchange 30-share Sensex, which had gained 337 points yesterday, fell 148.45 points to 16,936.89, after touching a low of 16,744.99.

The broad-based National Stock Exchange index Nifty lost 47.25 points to 5,091.90. It touched an intra-day low of 5,033.95.

Trading sentiment dampened as food inflation rose to 10.60% for the week ending October 8, compared to 9.32% in the previous week, raising concerns of further interest rate hike by the Reserve Bank in its policy review on Tuesday.

RBI has raised borrowing rates a dozen times since March 2010 to tame inflation, crimping corporate earnings.

A lower closing in the Asian region and weak openings in Europe further influenced the market sentiment. The European stocks fell as splits emerged among the region’s leaders on a plan to end the euro-zone debt crisis.

Investors also reduced their pending positions as the monthly derivatives contracts expiry was brought forward by two days to October 25 due to Diwali holidays.

The realty sector index suffered the most, down 2.04% at 1,808.52. Auto index lost 1.50% to 8,865.49.

The Banking sector index fell 0.86% to 11,169.27 as private lender ICICI Bank fell 2.89% and HDFC bank by 0.33%.

In all, 22 of the 30 Sensex stocks closed with losses, while eight ended in the green.