Indian shares fall as caution ahead of local inflation data dulls IT's shine

Container of India

12/12/2024 07:44

** NSE Nifty 50  .NSEI  and BSE Sensex  .BSESN  shed ~0.25%
each, weighed by drop in all sectors barring IT on caution ahead
of local inflation data
    ** IT index  .NIFTYIT  up 1% on near-certainty of a rate cut
next week in the U.S, a key rev source for the sector
    ** Auto  .NIFTYAUTO , oil and gas  .NIFOILGAS  and
state-owned firms  .NIFTYPSE  drop 0.7% each
    ** Smallcaps  .NIFSMCP100  and midcaps  .NIFMDCP100  drop
~0.9% and 0.5%; set to snap 14-session winning streak
    ** Caution prevails ahead of domestic inflation data, which
will have a huge bearing on the future domestic interest rate
trajectory, says Aishvarya Dadheech, CEO of Fident Asset
Management
    ** Inflation is expected to have eased in November, Reuters
poll showed
    ** FirstCry parent Brainbees Solutions  BRAE.NS  gains 2.5%
after Kotak starts with "buy"
    ** Container Corp of India  CCRI.NS  drops 3.2% after
Goldman Sachs cuts PT, citing downside risks to earnings growth

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))