MUMBAI, Nov 13: Indian stock markets opened sharply lower on Friday after a three-day rally, as investors booked profits and remained cautious about rising inflation and a possible RBI interest rate hike next month.
The BSE Sensex plunged 460 points to 81,441.17 in early trade, while the NSE Nifty declined 179.05 points to 25,119.50.
Among the major Sensex losers were Mahindra & Mahindra, HDFC Bank, InterGlobe Aviation, Trent, Bharat Electronics and Bajaj Finserv.
Investor sentiment weakened following India’s retail inflation rising to 6.09% in October, above the Reserve Bank of India’s upper tolerance limit of 6%.
Market participants are closely monitoring inflation trends, RBI policy expectations and global market developments. Profit booking after the recent rally also contributed to the decline.
Markets are expected to remain volatile as investors assess the economic outlook and future interest rate movements.
