Indices extend losses, moderation in domestic inflation arrests steep downside

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After bloodbath in the financial markets the previous day, domestic equity benchmark indices continued with their decline in opening deal on Tuesday morning.

At 9.41 a.m., sensex was down 0.3 per cent at 52,672 points, whereas nifty 0.3 per cent or 15,732 points.

Equity indices across the board witnessed a massive selloff on Monday after the US reported 40-year high inflation reading.

However, the steep fall in the indices back home in India this morning was arrested due to a moderation in retail inflation in the month of May.

India’s retail inflation for the month of May moderated from the previous month and came in at 7.04 per cent, however, it remained above the the central bank RBI’s 6 per cent upper tolerance band for a fifth month in a row.

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