BENGALURU: India’s Nifty 50 and Sensex fell on Tuesday, weighed by a pullback in energy shares ahead of inflation data from India and the United States, due later in the day.
The NSE Nifty 50 index fell 0.43% to 20,906.40, while the S&P BSE Sensex shed 0.54% to 69,551.03.
The blue-chip indexes logged their biggest single-day percentage loss since Nov. 1 and Oct. 26, respectively.
The Nifty had gained as much as 0.19% in the first hour of trade and hit a record high for the eighth session in nine.
India’s retail inflation likely picked up in November due to higher food prices, reversing a three-month decline, a Reuters poll found. The data is due at 5:30 p.m. IST.
The US Consumer Price Index (CPI) report, while expected to show inflation moderating, is still seen above the Fed’s target.
The inflation data and the US Federal Reserve’s policy decision and commentary on Wednesday could influence the near-term rate outlook, according to three analysts.
Energy stocks fell 1.31% on the day, snapping a rally which saw the index climb about 20% over last six weeks, supported by a fall in crude oil prices.
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