From Orissa Post
Owned by Eastern Media Ltd (Sambad Group)Markets snap 3-day rally; Sensex drops 318 points, Nifty slips below 25,150
What's behind this
On Friday the benchmark Sensex fell 318.56 points, about 0.39%, closing at 81,592.45, while the Nifty slipped below the 25,150 mark, ending around 25,144.30. The decline ended a three‑day rally as investors priced in a possible RBI policy rate hike next month after retail inflation rose to 6.09% in October. Selling pressure in banking, financial, realty and metal stocks, together with rising crude oil prices that revived inflation concerns, pushed all sectoral indices into the red, with Nifty Realty, Auto, IT, Metal and Private Bank among the biggest losers.
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RSS excerpt
Mumbai: Benchmark indices Sensex and Nifty ended lower Friday, snapping a three-day rally amid anticipation of a policy rate hike by the RBI next month after retail inflation surged to 6.09 per cent in October. The 30-share BSE Sensex dropped 318.56 points, or 0.39 per cent, to settle at 81,592.45…