Sensex, Nifty edge lower as HDFC Bank drags; US inflation data looms
IT stocks presented a muted show as investors turn cautious ahead of key US data that will determine future interest rate trends. Sensex dipped 118 points to settle at 72,987. Nifty shed 17 points to end at 22,200.
Indian closed marginally lower in a highly volatile on Wednesday, dragged by top HDFC Bank. Additionally, remained subdued as investors awaited key , which could potentially impact future .The 30-share BSE benchmark declined 118 points or 0.16% to settle at 72,987. The broader NSE dropped 17 points or 0.08% to end at 22,200.
The US inflation data is due later in the day. Hotter-than-expected inflation could lead to a further delay in US rate cuts.
Heaviest-weighted dropped 0.3%, with HDFC Bank losing 1.4%. Nifty Auto, FMCG, and Media also closed in the red. On the flip side, Nifty PSU Bank, Realty, Metal, Oil & Gas, and Pharma closed in the green.
More to come....
Source: Stocks-Markets-Economic Times
