Indian stocks fall, rupiah hits low ahead of inflation data.

According to a Reuters poll, retail inflation in India likely hit an 18-month high in April, driven by rising fuel and food prices, remaining well above the Reserve Bank of India’s 2% to 6% tolerance limit for the fourth time in a row. . month. Inflation data is due at 1200 GMT.

The NSE Nifty 50 Index was down 1.47% at 15,929.75 0353 GMT, while the S&P BSE Sensex was down 1.49% at 53,282.86. The benchmark index closed lower for the fourth straight session on Wednesday.

The Indian rupee fell to its second lowest level this week, 77.57 against the dollar, amid a general decline in Asian currencies.

The Good Public Sector Banks Index fell 3.2% and was the worst performing sub-index.

Nifty’s metals, finance and auto sub-indexes were down nearly 2% each.

Jaguar Land Rover’s parent company, Tata Motors, down 2.5%, is expected to report quarterly results later today.

Stocks fell on Thursday as data showed that US inflation remained high, and investors worried about the economic consequences of aggressively raising interest rates to control it. [MKTS/GLOB]

Cheryl Tenny

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