RIL, inflation pull down markets, Sensex down 101 pts

STAFF WRITER 17:38 HRS IST

Mumbai, Feb 18 (PTI) Weighed down by the market leader Reliance, the BSE benchmark Sensex snapped its two-day rally to close 101 points down amid rising food inflation.

Rising for the fourth consecutive week, food inflation inched up to 17.97 per cent for the week ended February 6, making markets nervous that the apex bank would have to push up interest rates sooner than later. This comes in the wake of the wholesale price inflation for January hitting a 14-month high of 8.56 per cent.

After opening lower on weak global cues, the 30-issue BSE barometer went down further to end the day 101.07 points lower or 0.62 per cent to 16,327.84. The 50-issue Nifty of the NSE, too, shed 26.25 points or 0.53 per cent to close below the psychological 4,900-mark yet again at 4,887.75.

Topping the jittery mood was a large-scale selling in the interest-senitive realty stocks, battering the index 2.