Nifty, Sensex extend losses ahead of inflation data [Reuters]
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Source: Reuters
Nifty, Sensex muted ahead of inflation data | Reuters 2 Min Read (Reuters) - Indian shares were little changed in a low-volume trading on Tuesday, as investors awaited a key inflation data due later in the day. A Reuters poll of 30 economists predicted consumer price inflation (CPI) to have accelerated to 2.48 percent in January, from 2.19 percent in December. If the consensus estimate is met, it would mark the sixth month in a row where inflation was below the Reserve Bank of India’s medium-term target of 4 percent. The RBI unexpectedly lowered interest rates at its monetary policy meeting on Thursday after a slide in inflation rate, with Governor Shaktikanta Das hinting at further rate cuts if inflation remained muted. Analysts also suggested that markets were feeling the effect of tepid corporate earnings in the December quarter. “Earnings have been mixed for Q3. Though the companies posted revenue above or in-line with consensus estimates, margins were missed by many companies,” s
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