Sensex closes 144 points lower as WPI rises unexpectedly - Livemint

Shares of HDFC, Hindalco Industries and Axis Bank fall. Photo: Mint

Mumbai : The 30-share benchmark S&P BSE Sensex declined on Tuesday after India's Wholesale Price Index rose to 5.7% in March, higher then the previous month's 4.68%. A Bloomberg poll of 42 analysts had forecast the rate at 5.3%.

The Sensex closed at 22,484.93, down 0.64%, or 144.03 points, while the National Stock Exchange's broader 50-share CNX Nifty fell 0.64%, or 43.20 points, at 6,733.10 points.

The government will issue Consumer Price Index (CPI)-based inflation data after market hours on Tuesday. A Bloomberg poll forecast CPI inflation at 8.25% for March, against 8.1% in February.

Among gainers, Tata Consultancy Services Ltd (TCS) rose 4.06% to Rs.2,251.55, Wipro Ltd jumped 3.71% to Rs.589, Hero MotoCorp Ltd climbed 2.34% to Rs.2,222.40. Infosys Ltd rose 0.76% to Rs.3,260.45 after it posted better-than-expected Q4 results. Net income rose to Rs.2,992 crore, up 4%, while revenue fell 1.15% to Rs.12,875 crore.

Among losers, Hindalco Industries Ltd retreated 4.48% to Rs.134.20, Axis Bank Ltd declined 3.32% to Rs.1,445.75, Housing Development Finance Corp. Ltd(HDFC) fell 3.25% to Rs.887.80.

The S&P BSE IT and S&P BSE Teck indices were the top sectoral gainers, up 2.16% and 1.62%, respectively. S&P BSE Realty index was the top loser, down 2.99%.

UB Group shares rose after Diageo Plc. said it would launch a second round of open offer for the shareholders of United Spirits Ltd to hike its stake over 51% at a price of Rs.3,030 a share. United Spirits rose 11.58% to Rs.2,853.15, while United Breweries (Holdings) Ltd gained 19.96% to Rs.33.35.

Clariant Chemicals (India) Ltd added 6.08% to Rs.700.15, after the company said in a release to BSE that it will sell its 87 acres in Thane to a subsidiary of Lodha Developers Pvt. Ltd for Rs.1,150 crore.

Shares of Multi Commodity Exchange of India Ltd (MCX) gained 3.90% to Rs.584.15 on expectations of an impending stake sale by Financial Technologies (India) Ltd (FTIL). FTIL declined 0.43% to Rs.360.40.

The markets were closed on Monday on account of Ambedkar Jayanti.

Since the beginning of this year, the BSE Sensex has gained 6.21% while foreign institutional investors have bought $4.83 billion of stocks during the period from local equity markets.

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