There seems to be let off for the government and the RBI as inflation continued to spiral out of control despite successive rate hikes.
The wholesale price index (WPI) for the year rose to 8.66% in April as against 8.98% in March on higher fuel and manufactured product prices. A CNBC-TV18 poll forecasted a 8.46% rise in the figure for the said month.
The Sensex was down 113.00 points or 0.61% at 18418.28, and the Nifty was down 21.25 points or 0.38% at 5523.50. About 1028 shares advanced, 1483 shares declined, and 1130 shares remain unchanged.
Auto, realty, metal and banking stocks continue to drag markets lower. The broader markets too were bleeding in losses.
In the largecap space, Ranbaxy Labs, Sun Pharma, Ambuja Cements, Hero Honda and ACC were up 1.5-3.5%. On the losing side, Mahindra and Mahindra, Reliance Infra, ONGC, Bajaj Auto and Reliance Capital were down 1.8-2.5%.
Top gainers on the BSE Midcap: Glenmark Pharma, MVL, Den Networks, Wockhardt and Techno Electric were up 4-13%.
Top losers on the BSE Midcap: Sunteck Realty, CMC, Kwality Dairy, SKS Microfinance and KGN Industries were down 5-10%.
Top gainers on the BSE Smallcap: Saint-Gobain, Ganesh Housing, Ajanta Pharma, Gati and MarathonNextgen were up 7-15%.
Top losers on the BSE Smallcap: Excel Crop Care, Empee Sugars, Parenteral Drug, Zodiac Clothing and English Ind Cla were down 6-11%.
