Sensex Falls Over 200 Points, Nifty Near 12,100 As Markets Erase Early Gains: 10 Things To Know

Economists said the rising inflation could prompt the RBI to leave key rates unchanged in coming months as it tries to support the economy.

Sensex Falls Over 200 Points, Nifty Near 12,100 As Markets Erase Early Gains: 10 Things To Know

Losses in financial, automobile and metal stocks pulled the markets lower

Domestic stock markets gave up early gains amid volatile trade on Thursday, a day after official data showing higher-than-expected consumer inflation dashed hopes of further monetary easing for the time being. The S&P BSE Sensex index declined as much as 201 points to hit 41,360 in noon deals, after starting the session higher at 41,707.21, and the broader NSE Nifty benchmark dropped to 12,140, down 60 points from the previous close. Losses in financial, automobile and metal stocks pulled the markets lower.

Here are 10 things to know about the stock markets (Sensex and Nifty LIVE updates) today:

  1. At 1:00 pm, the Sensex traded at 41,360, down 200 points and the Nifty was down 60 points at 12,140. 

  2. Thirty two stocks on the 50-scrip benchmark index moved lower at the time. Top percentage laggards were Axis Bank, Kotak Mahindra Bank, Maruti Suzuki, Adani Ports and HCL Tech, trading between 1.32 per cent and 1.60 per cent lower. 

  3. On the other hand, Yes Bank, SBI, Zee Entertainment, Titan and Dr Reddy's - up between 1.32 per cent and 3.98 per cent - were the top Nifty gainers. 

  4. ICICI Bank, HDFC and HDFC Bank  were the top drags on the Sensex, together accounting for a fall of more than 100 points in the index. 

  5. Equities in other Asian markets wobbled as the number of new coronavirus cases and deaths in the outbreak's epicentre increased. China's Hubei province, where the virus is believed to have originated, reported 242 new deaths, double the previous day's toll, and confirmed 14,840 new cases on February  12.

  6. MSCI's broadest index of Asia-Pacific shares outside Japan was steady in morning trade, but the news knocked the week's momentum from stock markets. Japan's Nikkei 225 benchmark index was flat.

  7. Government data released after market hours on Wednesday showed annual retail inflation - or the rate of increase in consumer prices - accelerated to 7.59 per cent in January, its highest level in nearly six years.

  8. Economists said the rising inflation could prompt the Reserve Bank of India (RBI) to leave interest rates unchanged in coming months as it tries to support the faltering economy.

  9. Separate official data on the same day showed industrial output contracted 0.3 per cent unexpectedly in December, after rising for the first time in three months in November. That highlighted that the economy, which is staring at its worst pace of annual expansion since the 2008-09 global financial crisis, remains troubled.

  10. Earlier on Wednesday, the S&P BSE Sensex index had climbed up 349.76 points - or 0.85 per cent - to end at 41,565.90, and the broader NSE Nifty benchmark settled at 12,201.20, up 93.30 points - or 0.77 per cent - from the previous close, both the highest closing levels recorded since January 24.



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