Sensex, Nifty End Modestly Lower Ahead Of Macro Data
(RTTNews) - Indian shares ended modestly lower on Thursday as caution crept in ahead of domestic inflation and industrial output data due later in the day.
According to a report by Union Bank of India, India's industrial production growth, as indicated by IIP, may have improved to 3.7 percent year-on-year in October, from 3.1 percent in the previous month.
Retail inflation, based on the Consumer Price Index (CPI), is expected to ease to 5.5 percent in November due to a decline in food prices, according to a Morgan Stanley report.
Firm cues from global markets helped limit overall losses after in-line U.S. CPI data cemented expectations of an interest rate cut from the Federal Reserve next week.
Investors expect the Fed to deliver a 25-bps rate cut on December 18 after both headline and core U.S. inflation rates aligned with market forecasts.
The benchmark S&P/BSE Sensex ended the session down 236.18 points, or 0.29 percent, at 81,289.96 while the broader NSE Nifty index dipped 93.10 points, or 0.38 percent, to close at 24,548.70.
Adani Ports, Tech Mahindra, IndusInd Bank, Bharti Airtel and Adani Enterprises rose 1-2 percent in the Nifty pack while BPCL, Hero MotoCorp, Coal India, Hindustan Unilever and NTPC fell 2-3 percent.
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