Mumbai, July 14 (IANS) A benchmark index for Indian equities, the sensitive index (Sensex) of the Bombay Stock Exchange, closed flat on Tuesday after lower-than-expected retail inflation data dampened hopes of an interest rate cut by the central bank next month.
The 30-share Sensex, which opened at 27,986.92 points, closed at 27,932.90 points, down 28.29 points, or 0.10 percent, over the previous day’s close at 27,961.19 points. It had touched a high of 28,018.59 points and a low of 27,853.96 points in intra-day trade.
The wider Nifty of the National Stock Exchange also closed flat — down 5.55 points or 0.07 percent.
Rise in food and fuel prices propelled India’s retail inflation to 5.40 percent in June from 5.01 percent in May, official data showed on Monday.
“Indian shares edged lower on Tuesday after worse-than-expected retail inflation data dented hopes of an interest rate cut by the central bank next month, but gains due to a landmark nuclear deal with Iran provided some support to stocks,” brokerage firm Sharekhan commented.
Foreign funds remained net sellers to the tune of $87 million during the day.
In the day’s trade, good buying was observed in IT and healthcare sectors, while selling pressure was seen in auto and banking sectors.
Among the 12 sector-specific indices of the Mumbai bourse, IT index got augmented by 0.89 and healthcare index gained by 0.64 percent. However, auto index plunged by 0.93 percent and bankex plummeted by 0.55 percent.
The 100-scrip and 200-scrip indices were 0.08 percent and 0.05 percent down, respectively, while mid-cap index gained by 0.14 percent and small-cap stocks went up by 0.36 percent.
The major Sensex gainers on Tuesday were: Coal India, up 3.33 percent at Rs.434.05; Infosys, up 2.11 percent at Rs.970.10; Hindustan Unilever, up 1.91 percent at Rs.927.45; and Hero MotoCorp, up 1.52 percent at Rs.2640.20.
The losers were: Tata Motors, down 4.10 percent at Rs.385.75; Hindalco, down 1.83 percent at Rs.104.60; State Bank of India, down 1.81 percent at Rs.268.60; and Vedanta, down 1.63 percent at Rs.145.10.