Sensex, Nifty log first fall in 3 days; Adani Ports, CIL drag


The wider Nifty50 of the National Stock Exchange (NSE) fell by 96.80 points, or 0.94 per cent, to provisionally close (at 3.30 p.m.) at 10,224.95 points.

Retail inflation has hit seven months high.

Market breadth was negative with 844 advances against 946 declines.

"Markets slid further on Tuesday to close with losses for the second consecutive session".

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Indian shares ended lower on Tuesday as accelerating inflation reduced the possibility of the central bank cutting interest rates at its next policy meeting.

Inflation at the wholesale level raced to a 6-month high of 3.59 per cent in October, fuelled by food articles, data released today showed.

The broader markets also traded in line with benchmarks, with the Nifty Midcap falling 0.2 percent.

A weakening rupee, which depreciated by 35 paise to 65.51 against the dollar during the day on fears that the tax rate decision of the GST Council will have a revenue implication of ₹20,000 crore annually, too dampened investor sentiment.

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"Global cues were not helping either amid uncertainty over the USA tax reform, slowdown in Chinese factory output and growing political issues in the United Kingdom", he added.

On the other hand, the S&P BSE consumer durables index rose by 129.50 points, automobile index by 57.54 points and realty index by 16.85 points.

The top gainer on both indices was Hero MotoCorp, whose share prices rose 2.1% on the Nifty and 1.96% on the Sensex.

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