The investor sentiments were fragile as the food inflation rose marginally to 8.76% for the week ended April 16. This has fuelled expectations that RBI on Tuesday would raise the rates by almost a quarter. Moreover, the Asian market was also trading lower since the morning despite a positive closing on the Wall Street.
At 11:00 am (IST), the BSE Sensex was trading at 19,242, down 49 points. It had opened at 19,292. NSE Nifty was trading at 5,774, down 11 points. It had opened at 5,782. The market breadth is negative, as 1,078 shares have advanced and 1,257 shares have declined.
The losers from the Sensex and Nifty pack were Axis Bank, Hero Honda, Reliance Capital, HDFC, HDFC Bank, M&M, L&T, Hindalco, SAIL and Sterlite. The gainers from the Sensex and Nifty pack were Ambuja Cement, Sun Pharma, HUL, Siemens, Ranbaxy, Maruti Suzuki, R Power, HCL Tech, RCOM, BHEL, Power Grid, RIL, JP Associate and Cairn India.