Indian benchmark indices end lower on Tuesday

Indian benchmark indices end lower on Tuesday

India Blooms News Service | 14 Nov 2017

Mumbai, Nov 14 (IBNS): The Indian market ended lower on Tuesday with BSE Sensex down 91.69 points at 32,941.87 and NSE Nifty down 38.40 points at 10,186.60.

The Union Ministry of Commerce & Industry, on Tuesday, published the Wholesale Index for October 2017, which indicated that India's wholesale inflation grew to 3.59 per cent, hitting a six-month high in October, due to increase in prices of food and fuel products, according to media reports.

The Ministry in its release said that Wholesale Price Index for ‘All Commodities’ (Base: 2011-12=100) for the month of October, 2017 rose by 1.0 percent to 115.5 (provisional) from 114.3 (provisional) for the previous month.

The annual rate of inflation, based on monthly WPI, stood at 3.59% (provisional) for the month of October, 2017 (over October, 2016) as compared to 2.60% (provisional) for the previous month and 1.27% during the corresponding month of the previous year. Build up inflation rate in the financial year so far was 2.03% compared to a build up rate of 3.53% in the corresponding period of the previous year

The index for 'Food Articles' group rose by 2.2 percent to 148.0 (provisional) from 144.8 (provisional) for the previous month due to higher price of fruits & vegetables (9%), tea (5%), poultry chicken (3%), egg (2%) and condiments & spices, barley and paddy (1% each).  However, the price of betel leaves (9%), ragi (7%), gram and bajra (5% each), arhar (4%), masur and jowar (3% each), pork (2%) and moong, urad, rajma, maize and coffee (1% each) declined.

The index for 'Non-Food Articles' group declined by 0.9 percent to 119.2 (provisional) from 120.3 (provisional) for the previous month due to lower price of raw cotton (5%), fodder, mesta and cotton seed (3% each), raw rubber, safflower (kardi seed) and castor seed (2% each) and hides (raw), raw jute, gingelly seed, guar seed and groundnut seed (1% each).  However, the price of floriculture (8%), raw wool and raw silk (2% each) and soyabean, sunflower, copra (coconut), niger seed and coir fibre (1% each) moved up.

The index for 'Minerals' group rose by 1.1 percent to 120.8 (provisional) from 119.5 (provisional) for the previous month due to higher price of sillimanite (14%), lead concentrate (6%), copper concentrate and zinc concentrate (3% each), manganese ore and bauxite (2% each) and phosphorite (1%). However, the price of limestone (5%) and chromite (2%) declined.

The index for 'Crude Petroleum & Natural Gas' group rose by 8.6 percent to 69.8 (provisional) from 64.3 (provisional) for the previous month due to higher price of natural gas (11%) and crude petroleum (8%).

To gainers on Tuesday included Hero Motocorp, BHEL, Axis Bank, Bajaj Auto, Bajaj Finance, Reliance and M&M while L&T, Bharti Infratel, Asian Paints, TCS, ONGC, HPCL, Power Grid Corp, Vedanta and Sun Pharma declined.

Indian benchmark indices end lower on Tuesday

India Blooms News Service
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