BSE Sensex shares plunge as economy data pares RBI interest rate cut hopeshttps://indianexpress.com/article/news-archive/web/bse-sensex-shares-plunge-as-economy-data-pares-rbi-interest-rate-cut-hopes/

BSE Sensex shares plunge as economy data pares RBI interest rate cut hopes

BSE Sensex was down 0.49 percent,while the 50-share NSE Nifty fell 0.63 percent.

With the economic data cancelling out hopes of a RBI interest rate cut,the markets were southward bound. BSE Sensex was down 0.49 percent,while the 50-share NSE Nifty fell 0.63 percent.

* Stocks sensitive to interest rates fall after better-than-expected factory data and accelerating consumer inflation pare some of the rate cut hopes for the RBI’s policy review on March 19.

* ICICI Bank shares falls 1.2 percent,while HDFC Bank Ltd is down 2.2 percent

* January industrial production rose at a stronger-than-expected 2.4 percent from a year earlier,while CPI rose 10.91 percent from 10.79 percent in January.

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* IT stocks fall for a second day on profit-booking after last week’s rally.

* Tata Consultancy Services falls 0.8 percent while Infosys is down 0.9 percent.