Sensex, Nifty trade lower as IIP, inflation data disappoint

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Sensex, Nifty trade lower as IIP, inflation data disappoint
The Sensex and the Nifty were trading lower as lower than expected IIP data and higher than expected retail inflation worried investors.

The Sensex was trading lower by 11 points, while the Nifty was lower lower by 2 points. Leading the set of losses on the Nifty were banking shares including the likes of ICICI Bank,

Shares in Sun Pharma were trading marginally higher after the company's results were a mixed bag, with topline growth below expectations, while margins were maintained.

Bhel slumped after its profits fell below Rs 200 crore leaving analyst seriously worried on the company's prospects.

Top Nifty gainers in trade today were BPCL, Hindustan Unilever and ONGC.

IT stocks were trading steady on the back of losses in the rupee. TCS, Wipro and HCL Tech were all trading with gains.

Banking stocks were weak in trade after inflation data came in higher than expected. ICICI Bank, HDFC Bank, Yes Bank and Bank of Baroda were among the losers.

Mid cap stocks that gained ground in trade were Aurobindo Pharma, CESC and Voltas. Meanwhile, markets in Asia were trading with losses after the US markets closed weak. Worries over Russia and Ukraine continue to leave investors concerned.

Read more about: sensex, nifty, iip, icici bank, wipro, tcs, hcl tech, inflation
Story first published: Wednesday, August 13, 2014, 9:25 [IST]
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