MUMBAI:
A sharp surge in inflation to highest level in more than two years weighed down heavily on the stock market on Friday with the benchmark Sensex closing down 113 points after hitting yet another peak earlier in the day. The 30-share index settled at 14538.90, a fall of 113.19 points, after hitting an all-time high of 14723.88 earlier in the intraday trade.
After opening on a firm note at 14684.35, the index hit an intraday low of 14493.67, as the mood turned somewhat hesitant with a sharp rise in inflation and profit booking emerging on bourses.
Brokers also attributed the weak trend to the cautious sentiments being adopted by traders ahead of the forthcoming Union Budget to be announced on February 28 — PTI
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