BSE Sensex Ends Lower For Second Straight Day
The benchmark BSE Sensex closed 0.64 per cent lower at 22,484.93, while the broader Nifty also ended down 0.64 per cent at 6,733.10.
Interest rate-sensitive shares such as those of banks and real estate companies fell after the surprisingly strong wholesale price inflation.
These sectors had surged on anticipation the Reserve Bank of India would hold off on further interest rate hikes after tightening monetary policy by 75 basis points since September.
Housing Development Finance Corp fell 3.39 per cent, while DLF Ltd lost 5.8 per cent and Unitech closed 2.1 per cent lower.
Among banks, State Bank of India ended down 1.5 per cent.
Investors took profit across a range of blue chips. Hindalco Industries fell 4.73 per cent, while Tata Motors, which had gained 6.3 percent so far this month, was down 2.4 per cent.
However, Infosys Ltd rose 0.76 per cent after posting a stronger-than-expected 25 per cent increase in net profit.
Other IT outsourcing companies also rose, with Tata Consultancy Services gaining 4.1 per cent and Wipro closing 3.6 per cent higher.
Shares in United Spirits Ltd rose as much as 15 percent to a record high of 
2,940.80 after Diageo Plc announced a tender offer to acquire up to an additional 26 per cent stake in the Indian firm at 3,030 a share. The offer will be launched in June.
Shares in the spirits maker ended up 11.6 per cent.
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