Indices fall sharply in early trade, Sensex declines nearly 1K pts

India’s benchmark equity indices declined sharply in early trade on Monday as surge in inflation dented investors’ sentiment.

Consumer Price Index or retail inflation rose steeply in March to 6.95 per cent, which was above Reserve Bank of India’s upper tolerance band of 6 per cent for three consecutive months.

At 9.36 a.m., Sensex was at 57,368 points, down 970 points or 1.66 per cent, whereas Nifty at 17,220 points, down 256 points or 1.46 per cent.

For fresh cues, all eyes would be on the Q4 earnings of India Inc.

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