Global cues drag equity indices lower; Nifty50 lowest in 3 weeks

9:27 AM Sectoral trend

	Source NSE

9:27 AM Sectoral trend Source NSE

At 10.12 a.m, the Sensex was trading down 30.02 points or 0.09% at 33,003.54 with 20 components falling.

Besides, inflation at the wholesale level too rose to six-month high of 3.59 % in October as the prices of food articles rose.

Benchmark indices extended losses for second consecutive day Tuesday, with the Sensex closing below 33,000-mark on weak Asian cues and unlikely rate cut post increase in inflation.

In addition, data released on Monday revealed that the consumer price index (CPI) inflation for October rose to 3.58 per cent from 3.28 per cent in September.

At 1 PM: Markets continued to trade in red during the afternoon session on Tuesday.

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

Shares of Larsen and Toubro fell 2.46% to become the biggest loser on the Sensex.

According to market observers, heavy selling pressure was witnessed in capital goods, oil and gas, banking and IT stocks.

Bharti Infratel lost 4.1 percent after a huge block deal.

On the currency front, the rupee weakened by 26 paise to close at 65.42-43 against the United States dollar from its previous close at 65.16-17. "Oil remained well supported as ongoing output cuts led by the Organisation of the Petroleum Exporting Countries (OPEC) and Russian Federation contributed to a significant reduction in excess supplies, also as tensions in the Middle East raised the prospects of supply disruptions", Desai told IANS.

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