BSE Sensex nosedives on profit booking, surging inflation

Mumbai: Profit booking, coupled with disappointing macro-economic inflation data and lower crude oil prices, subdued the Indian equity markets on Wednesday. Consequently, the key indices closed the day's trade on a flat note, as heavy selling pressure was witnessed in automobile, consumer durables and capital goods stocks. The wider 51-scrip Nifty of the National Stock Exchange (NSE) inched down by 1.55 points or 0.02 per cent to 8,519.50 points. On the other hand, the barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 27,912.14 points, closed the day's trade at 27,815.18 points -- up a mere 7.04 points or 0.03 per cent from the previous close at 27,808.14 points. The Sensex touched a high of 27,928.76 points and a low of 27,752.14 points during the intra-day trade. The BSE market breadth was tilted in favour of the bears -- with 1,733 declines and 1,010 advances. Both indices had ended in the positive territory during the previous trade session on Tuesday to reach their new 11-month closing high levels. The barometer index edged up by 181.45 points or 0.66 per cent to 27,808.14 points, while the Nifty gained by 53.15 points or 0.63 per cent to 8,521.05 points.