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  • Sensex tumbles 113 pts down on high food inflation number

    Published on January 6, 2011

    The BSE benchmark Sensex fell by over 113 points at midsession on Thursday, on profit booking and reports of a sharp rise in food inflation.

    Food inflation jumped to 18.32 per cent for the week ended 25th December, from 14.44 per cent recorded in the week-ago period, triggered by sharp escalation in onion and other vegetables’ prices.

    At its current level, the food inflation is at its highest level after the 19.90 percent inflation witnessed a year ago.

    This has prompted fears that Reserve Bank may have to tighten monetary policy to check further escalation in food prices.

    Spiked by the news, the Sensex that had commenced the day with gains of 125 points, fell by 113.22 points to 20,187.88 level at 1215 hrs.

    The broad-based National Stock Exchange index Nifty also lost 31.30 points at 6,048.50 level, after trading 36.35 points higher in the opening trade.

    Brokers said emergence of profit-booking also pulled down the market. They said the fall was led by stocks in realty, auto and capital goods sectors.

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