Indices extend losses, moderation in domestic inflation arrests steep downside

Mumbai, June 14, 2022

After bloodbath in the financial markets the previous day, domestic equity benchmark indices continued with their decline in opening deals on Tuesday morning.

At 9.41 a.m., the BSE Sensex was down 0.3 per cent at 52,672 points, whereas the NSE Nifty was 0.3 per cent or 15,732 points.

Equity indices across the board witnessed a massive sell-off on Monday after the US reported a 40-year high inflation reading.

However, the steep fall in the indices back home in India this morning was arrested due to a moderation in retail inflation in the month of May.

India's retail inflation for the month of May moderated from the previous month and came in at 7.04 per cent, but it remained above the RBI's 6 per cent upper tolerance limit for a fifth month in a row.

IANS