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Aug 14, 2012, 12.22 PM IST
Indian equity benchmarks were volatile ahead of July inflation data. Analysts on an average expect it in the vicinity of 7.24% as against 7.25% in June, but that is still above the RBI's comfort level of 7%. Hence, the central bank may not cut policy rates in September policy.
Housing finance company HDFC fell 1.5% and private sector lender HDFC Bank was down 0.4%.
Cigarette major ITC, engineering and construction major Larsen & Toubro and software services exporter Infosys were trading marginally lower.
Among auto stocks, Bajaj Auto and Maruti Suzuki declined 1% each while Hero Motocorp slipped 0.7%. Tata Motors and M&M were up nearly 1%.
Power producers NTPC and Tata Power dropped more than 1%.
Index heavyweight Reliance Industries and country's largest private sector lender ICICI Bank moved up 0.7% each.
Private steel producer Tata Steel and India's largest coal mining company Coal India gained 1.7% and 2%, respectively.
The Indian rupee dropped by 36 paise to 55.70 against the US dollar.
Indian shares started off Tuesday trade on a flat note for the second consecutive session this week due to lack of local and global cues. Today's inflation will be closely watched, but experts feel that is not very much important for the time being.
May 21 2013, 13:56
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May 21 2013, 11:05
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