Stock Market Updates for the Day (11th August '11)
The BSE Sensex fell 0.4 percent after choppy trading on Thursday after data showed food inflation accelerated in end-July, triggering expectations the Reserve Bank of India (RBI) may continue with its tightening cycle despite global economic uncertainty.
"The stocks stayed in the negative zone as the inflation number was higher than expected. I think the higher inflation is not going to go in a hurry," said Neeraj Dewan, director at Quantum Securities.
However, analysts expect some bargain hunting to come in to the market after the main stock index ended lower for seven out of the last eight sessions. It had fallen 8 percent in the six sessions till Tuesday.
"We see value buying coming in the sectors linked to domestic consumption story such as FMCG," said Ambareesh Baliga, Chief Operating Officer at Way2Wealth.
In the broader market, 803 declines outnumbered advances on a total volume of 537.7 million shares.
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