Equity benchmarks remained under pressure with the Sensex falling more than 100 points, led by weakness in banks. The 30-share BSE Sensex fell 124 points to 25365 and the 50-share NSE Nifty declined 38 points to 7776.
Bank of Baroda (-9 percent), SBI (-5 percent), ICICI Bank (-3 percent) and Axis Bank (-2 percent) were the big losers in the Nifty. Other laggards in the index were Tata Power (-1 percent), BPCL (-1 percent), Power Grid Corp (-1 percent) and Bajaj Auto (-1 percent).
Gainers included Dr Reddy's Labs (3 percent), Tech Mahindra (2 percent), Bosch (1 percent) and Bharti Infratel (1 percent).
WPI inflation in April came in positive territory for the first time in last 18 months, rising to 0.34 percent compared to negative 0.85 percent in preceding month. ICICI Bank, SBI and Axis Bank extended losses, falling 2-4 percent on fears that RBI may hold rates after rise in WPI inflation. Bharti Airtel, HUL, ONGC, Adani Ports and Hero Motocorp were other losers with 1-2 percent losses while Dr Reddy's Labs continued to outperform with 3 percent rally.
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