Monday, September 16, 2013

Sensex pares initial gains, falls 7 points in afternoon trade

| Sep 16, 2013,

MUMBAI: Wiping off initial gains, the BSE benchmark Sensex dropped 7 points during mid-session trading on Monday, mainly on profit-booking, as accelerating inflation dimmed chances of any interest rate cut by the RBI.

At 1330 hrs, the sensex had fallen by 136.61 points to 19,596.15, after inflation rose to a six-month high, stoking concern of RBI likely to maintain the cash-tightening measures at its policy meeting this week.

The broad-based National Stock Exchange index Nifty fell by 52.45 points to 5,798.15, after rising to 5,957.25 at the outset.
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