Benchmark indices end lower on Thursday inspite of lower WPI - LuvKush Finserve

Benchmark indices ended lower on Thursday, shrugging off better-than-expected Jan WPI, amid profit booking in auto, financials and Reliance Inds. The Sensex ended at 19,497 down 111 points or 0.57% and the Nifty ended at 5,897 down by 36 points or 0.61%.

The headline inflation rate moderated to its lowest level in more than three years in January, helped by a slower rise in fuel and manufactured goods prices, which could give policymakers more leeway to revive a slowing economy. Wholesale prices - India's main inflation gauge - rose 6.62% in January from a year earlier, the slowest pace since November 2009. Headline inflation stood at 7.18% in December.

On the sectoral front, BSE Capital Goods, Oil & Gas and Auto indices slumped between 1.5-2% followed by counters like Power, Realty, Consumer Durable, Healthcare, PSU, Banks and TECk, all declining by 1% each. However, BSE IT, Metal and FMCG indices ended marginally positive. The broader indices continue to underperform the benchmark indices. BSE Midcap and Smallcap indices were down between 1-2%.

Source : Equity Bulls

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