Weak Economic Data Pull Sensex Down, Nifty Slides Too

Mumbai: Key stock barometer Sensex fell 105 points on Wednesday after disappointing economic data forced investors to tighten their exposure.

Surging oil prices and a sluggish trend in Asian markets brought pain, too. The 30-share gauge declined 104.55 points, or 0.31 per cent, at 33,123.44. FMCG, banking and power indices retreated by up to 0.16 per cent.

The gauge had lost 227.80 points in the previous session. The NSE Nifty slipped 29.60 points, or 0.28 per cent, to 10,210.55.

Market mood took a hit after government data, released after trading hours on Tuesday, showed that industrial production growth hit a 3-month low of 2.2 per cent in October and retail inflation jumped to a 15-month high of 4.88 per cent in November.

Investors brushed off another record close on Wall Street and looked forward to the Federal Reserve's latest policy meeting outcome today.

Japan's Nikkei shed 0.66 per cent while Shanghai Composite was down 0.12 per cent in early trade. Hong Kong's Hang Seng, however, was up 0.22 per cent.

Meanwhile, the US Dow Jones Industrial Average ended 0.49 per cent higher on Tuesday.