MARKET LIVE: Sensex sheds 650pts from day’s high; RIL gains, PSBs, IT slip
Stock market live updates: The key benchmark indices slipped into red in early noon deals as worries over high inflation in India and the US fueled fears of an aggressive monetary stance by the global bankers.
India’s whoelsale price index based Inflation remained elevated at 15.18 per cent in June even as it eased from 15.88 per cent in the previous month. On Thursday, the US reported a 41-year high retail inflation at 9.1 per cent for June.
The BSE Sensex which touched a high of 53,861, had slipped into red and was down 50-odd points at 53,475. The NSE Nifty50 hovered around the 15,950 level.
Among stocks, Tata Metaliks tanked 6 per cent on reportina 99 per cent decline in its net profits. Its margins dropped to 3.5 per cent from over 25 per cent a year ago.
Sanofi India rose over 4 per cent. The company will consider a special dividend on July 26.