From The Hindu
Owned by Kasturi & Sons Ltd.Markets snap 3-day rally; Sensex drops 318 points, Nifty slips below 25,150
What's behind this
On Friday the benchmark Sense and Nifty indices ended lower, breaking a three‑day rally. The Sensex fell 318.56 points, about 0.39%, closing around 81,592, while the Nifty slipped below the 25,150 mark, trading near 25,144. The decline came 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 worries, weighed on the market. Even so, defence‑related stock Apollo Micro Finance rose roughly 8% on profit‑booking.
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This is the first major decline for both the benchmark indices this month.