Markets turn cautious ahead of inflation data; metal, pharma stocks still gain

Published On: 12, Dec 2017 | Source: Timesofindia

NEW DELHI: The equity markets saw its rally stalling as investors turned cautious on Tuesday ahead of inflation and IIP (Index of Industrial Production) numbers, slated to come later in the day.

30-share BSE Sensex gained 28.80 points to start trading on 33,426.59 while the broader 50-share NSE Nifty opened with a minor slip of 2.65 points on 10,324.90. However, both the benchmark indices extended losses and were down by more than 0.20 per cent after the initial half an hour of trading.

Metal and pharma stocks had bucked the trend in early trading with the Nifty Metal sub-index gaining more than a per cent. Bank and FMCG scrips were dragging the numbers down.

Dr.Reddy stock was the leader of the pack, surging more than 4 per cent as one of its plants received USFDA nod. ONGC, GAIL and Hindalco were the other gainers. Hindustan Petroleum, Indian Oil and Bharti Airtel were losing the most.

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