Sensex down, Nifty falls as markets take a hit due to weak economic data

Published On: 13, Dec 2017 | Source: Hindustantimes

Key stock barometer Sensex fell 105 points on Wednesday after disappointing economic data forced investors to tighten their exposure.

Surging oil prices and a sluggish trend in Asian markets brought pain, too.

The 30-share gauge declined 104.55 points, or 0.31%, at 33,123.44. FMCG, banking and power indices retreated by up to 0.16%.

The gauge had lost 227.80 points in the previous session.

The NSE Nifty slipped 29.60 points, or 0.28%, to 10,210.55.

Market mood took a hit after government data, released after trading hours on Tuesday, showed that industrial production growth hit a 3-month low of 2.2% in October and retail inflation jumped to a 15-month high of 4.88% in November.

Investors brushed off another record close on Wall Street and looked forward to the Federal Reserve’s latest policy meeting outcome on Wednesday.

Japan’s Nikkei shed 0.66% while Shanghai Composite was down 0.12% in early trade Wednesday. Hong Kong’s Hang Seng, however, was up 0.22%.

Meanwhile, the US Dow Jones Industrial Average ended 0.49% higher a day before.