Market Wrap: Sensex, Nifty snap two-day winning run ahead of inflation prints, TCS, HCL Tech's Q1 numbers
Nifty closed lower on Wednesday (July 12), snapping their two-day winning run, as investors turned cautious ahead of the domestic and US inflation numbers which will potentially influence the next monetary policy moves by the US Fed and the Reserve Bank of India. Investors also awaited the June quarter numbers of IT majors TCS and HCL Tech, expected later today.
India’s retail inflation, as per a Mint poll of 19 economists, is likely to have inched up to 4.6 per cent in June from a 25-month low of 4.25 per cent in May on account of higher food inflation driven by vegetable, pulses and cereal prices. The poll predicts consumer price inflation (CPI) in a range of 4.1-4.8 per cent.
Sensex closed 224 points, or 0.34 per cent, lower at 65,393.90 while the Nifty50 ended the day at 19,384.30, down 55 points, or 0.28 per cent. (More to come)Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!
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