Sensex down by 281 pts, 3-week-low

MARKET LIVE: Sensex falls 114 points, Nifty breaks 10150 mark as metal stocks crash on lower global commodity prices

The Sensex touched a high of 33,417.30 points and a low of 32,999.98 points during intra-day trade.

On Friday, the GST Council had slashed the list of items in the top 28 per cent GST slab to 50 from 228 with the effect clearly seen in the markets on Monday.

On the currency front, the rupee weakened by 26 paise to close at 65.42-43 against the USA dollar from its previous close at 65.16-17.

Official data released on Tuesday showed that India's annual rate of inflation based on wholesale prices (wholesale price index) rose to 3.59 per cent in October due to an exponential rise in food prices.

BSE Sensex was up by over 15 points or 0.05% at 33,048.60 while the wider Nifty was down by over 3 points or 0.03% at 10,221.95.

"Volatility emerged as hopes of a near term rate cut by RBI has faded given spike in October CPI inflation to 3.58 percent".

The BSE market breadth was bearish - 1,629 declines and 1,082 advances.

"Rise in inflation numbers and weakness in Asian peers blunted the expectations of a recovery and domestic market remained range-bound".

Uncertainty over U.S. tax reform, slowdown in Chinese factory output and growing political issues in the United Kingdom weaned investors away from placing more bets. The BSE Capital Goods and Telecom and Oil & Gas index tumbed 1.41 per cent, 1.26 per cent and 0.88 per cent, respectively.

As many as 32 stocks in Nifty index closed in red with Bharti Infratel falling the most 5 per cent, followed by Indian Oil Corporation (down 2.48 per cent), Larsen & Toubro (down 2.38 per cent), HPCL (down 2.27 per cent) and Vedanta (down 2.07 per cent). Among the sub-indices, all sectors with the exception of Auto and Realty closed in the red.

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