Indian benchmark indices plunged for the second consecutive day on Tuesday. The Bombay Stock Exchange Sensex closed 91.69 points lower at 32,941.87, while the National Stock Exchange Nifty50 fell 38.4 points to end at 10,186.6.
The markets turned negative after government data showed a rise in both consumer and wholesale inflation, according to Mint. India’s wholesale price inflation stood at 3.59% for October, a rise from 2.6% in September. Consumer inflation rose to 3.58%.
The top gainer on both indices was Hero MotoCorp, whose share prices rose 2.1% on the Nifty and 1.96% on the Sensex. The other gainers on both the indices were Axis Bank, Reliance Industries, Bajaj Auto and Mahindra and Mahindra.
Shares of Larsen and Toubro fell 2.46% to become the biggest loser on the Sensex. The other poor performers were Power grid Corporation of India, Asian Paints, Tata Consultancy Services and Oil and Natural Gas Corporation. On the Nifty50, Bharti Infratel Limited, whose share prices fell by 4.99%, was the biggest loser. Indian Oil Corporation, Larsen and Toubro, Hindustan Petroleum Corporation and Vedanta also performed badly.
The Indian rupee, which opened at 65.36 a dollar, was trading at 65.51 around 4.40 pm.