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BW Businessworld

Sensex Falls From Three-Year High On Inflation, US Worries

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The BSE Sensex falls 0.7 per cent after hitting its highest intraday level since November 2010 on caution ahead of the 17 October deadline to lift the US debt ceiling. Meanwhile, the Nifty falls 0.83 per cent, after earlier hitting its highest intraday level since May 2013. Indian markets are closed on Wednesday, 16 October, for a public holiday.

Banking stocks fall as odds of a rate hike in October are seen to have increased after data on Monday showed both consumer and wholesale inflation accelerated last month.

HDFC Bank is down 1.5 per cent ahead of its September quarter results later in the day while ICICI Bank falls 1.4 per cent.

Tata Motors falls 1.7 per cent after hitting an all-time high of Rs 393.30 on Monday, 14 October.

(Reuters)