Comments
Shares fell slightly in choppy trade on Tuesday, as cooling oil and metal prices dragged energy and steelmaker stocks, with a higher-than-expected inflation reading for February denting sentiment further.
The blue-chip NSE Nifty 50 index was down 0.25% at 16,829.25 and the benchmark S&P BSE Sensex fell 0.22 per cent to 56,360.95.
Government data on Monday showed India's consumer prices rose 6.07% in February, above the central bank's 2 per cent to 6 per cent target for a second straight month.
A continued slide in oil prices dragged the Nifty energy index by 1 per cent. Oil and Natural Gas Corporation was the biggest percentage loser on the Nifty 50.
The Nifty Metal Index lost 2.07%. Steelmakers Tata Steel and JSW Steel fell about 2.3 per cent each.
In broader Asian markets, stocks fell on surging COVID-19 cases in China and lack of major progress in Russia-Ukraine negotiations.
Domestic investors will also be focusing on the U.S Federal Reserve, which meets on Wednesday and is expected to hike interest rates for the first time in three years to offset rising inflation. (
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.