Stock Market Updates for Today (16th August '11)
Erasing early gains, the Bombay Stock Exchange benchmark Sensex fell nearly 109 points on Tuesday as funds sold on fears of hike in interest rate amid high inflation and weak global markets.
The Sensex, which had climbed to 17,035.49 in the morning trade, gaining 187 points, fell back to end with a loss of 108.69 points at 16,730.94 on fears that RBI might hike key interest rates to curb inflation as it remained over 9 per cent for July.
Brokers said the nominal decline in inflation to 9.22 per cent in July, from a 9.44 per cent in June, was not enough to avert fears of further hike in interest rates.
The broad-based National Stock Exchange index Nifty lost 37.15 points to 5,035.80, after climbing to 5,132.20 as stocks in metals, realty, bank and oil and gas sector fell.
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