Indian Markets end lower on concerns over weak macro-economic situation - LuvKush Finserve

Benchmark indices ended lower on Wednesday as concerns over weak macro-economic situation and inflationary pressure continued to weigh on the investor's sentiments. The Sensex ended lower 101.87 points at 19,041.13 and the Nifty shed 28.60 points at 5,760.20 levels.

Growth concerns continued to weigh after country's industrial production grew less than expected, at 2 percent in April from a year earlier. Meanwhile, Consumer Price Index (CPI)- based inflation came down to 9.31% in May from 9.39% in April. Investors will now focus on Friday's wholesale price inflation (WPI) data which is expected to remain in the central bank's comfort level of 5 per cent. An easing inflation will provide RBI more elbow-room to reduce interest rates in the June 17 monetary policy review.

Barring healthcare and bank sector, rest all declined with metal, banks, realty and consumer durables leading drop on the BSE.

The gainers included counters such as Jindal Steel gaining 3.8%, Cipla rose 1%, Reliance Industries gained 0.6% while Mahindra & Mahindra added 0.7% on the BSE. The laggards included names like Tata Power falling 3%, Coal India fell 3%, Hero MotoCorp declined 2.7%, Tata Steel shed 2.6%, Bajaj Auto declined 2.2% while Hindalco Industries shed 2.3% on the BSE.

The broader markets traded negative with mid-caps and small-caps falling 0.5 per cent on the BSE.

Source : Equity Bulls

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