Mumbai, April 16 (IANS): A benchmark index of the Indian stock markets Wednesday fell 208 points or 0.92 percent, as capital goods, information technology (IT) and technology, entertainment and media (TECK) stocks fell.
Markets remained bearish even a day after the Wholesale Price Index (WPI) inflation data was announced.
According to figures released by the ministry of commerce and industry, the headline inflation measures in terms of the WPI rose to three-month high of 5.7 percent in March from 4.68 percent in the previous month due to sharper increase in food and fuel prices.
The higher inflation data dashes hopes of monetary policy easing by the Reserve Bank of India.
The benchmark index closed in negative territory for the third consecutive day. The 30-scrip sensitive index S&P Sensex of the Bombay Stock Exchange (BSE) which opened at 22,486.73 points, ended the day's trade at 22,277.23 points, down 207.70 points or 0.92 percent from its previous day's close at 22,484.93 points.
The Sensex hit an intra-day high of 22,533.61 points and a low of 22,247.39 points.
In the day's trade, capital goods, IT, TECK, automobile, consumer durables stocks came under sustained selling pressure. However, fast moving consumer goods (FMCG) and metal scrips rallied.
The capital goods index of the BSE tanked 301 points, IT index was fell 224.83 points, TECK index slipped by 107.15 points, automobile index was lower by 86.87 points and consumer durables index was down 73.21 points.
However, FMCG index was up 43.08 points and metal index edged higher by 18.78 points.
The wider 50 scrip S&P Nifty of the National Stock Exchange (NSE) too ended in negative territory. It closed 57.80 points or 0.86 percent down at 6,675.30 points.
The major Sensex gainers were: ITC, up 1.44 percent at Rs.345.90; Tata Steel, up 1.31 percent at Rs.413.75; Hindalco Inds, up 0.86 percent at Rs.135.35; Maruti Suzuki, up 0.61 percent at Rs.1,934.10; and ICICI Bank, up 0.35 percent at Rs.1,222.30.
Sensex main losers were: Tata Power, down 3.61 percent at Rs.81.55; Infosys, down 3.19 percent at Rs.3,156.40, BHEL, down 3.17 points at Rs.175.60; Wipro, down 2.90 points at Rs.571.90; and Larsen and Toubro (L&T), down 2.87 percent at Rs.1,260.50.
Among the Asian markets, Japan's Nikkei closed 3.01 percent up, and Hong Kong's Hang Seng ended 0.11 percent up. China's Shanghai Composite Index gained 0.17 points.
In Europe, London's FTSE 100 was trading 0.36 percent up at the closing bell here. Germany's DAX Index increased by 0.84 percent, while the French CAC 40 Index gained by 0.93 percent.