Sensex retreats for third day on muted global cues

The market was shut on Friday for Ambedkar Jayanti and Good Friday.

Markets brought about their third session of fall today, buffeted by ongoing geo-political headwinds, as the Sensex fell marginally to a three-week low of 29,414 even as wholesale inflation moderated. The Korean peninsula, Afghanistan and Syria remained geo-political flashpoints, which cast their shadow here.

After reaching the day’s low of 29,363.28, the Sensex recovered partially before settling down 47.79 points, or 0.16 per cent, at 29,413.66 — its lowest closing since March 27.

The gauge has now lost 374.69 points in three sessions.

The NSE Nifty also remained under pressure and was down 11.50 points, or 0.13 per cent, to close at 9,139.30.

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Inflation based on the wholesale price index slipped to 5.70 per cent in March, from 6.55 per cent in February as manufactured goods showed cost decline even as food prices hardened.

Outperforming the key indices, broader markets were in a better shape.