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Epic Update ICICI BankEquity benchmarks continued to see selling pressure in noon trade with the Sensex falling 89.10 points to 25400.47 and the Nifty declining 28.45 points to 7786.45.
The market breadth was also weak as about 1210 shares declined against 1035 advancing shares on Bombay Stock Exchange.
WPI inflation in April came in positive territory for the first time in last 18 months, rising to 0.34 percent compared to negative 0.85 percent in preceding month.
ICICI Bank, SBI and Axis Bank extended losses, falling 2-4 percent on fears that RBI may hold rates after rise in WPI inflation.
Bharti Airtel, HUL, ONGC, Adani Ports and Hero Motocorp were other losers with 1-2 percent losses while Dr Reddy’s Labs continued to outperform with 3 percent rally.
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Posted in: Indian Market Tips
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