Indian Shares Book Losses Ahead of Key Inflation Data

The BSE Sensex slid 150 points to 59,960 on Thursday, closing in the red for a third session as investors refrained from taking large positions ahead of CPI prints from the United States and India to be released after the closing bell, which have strong potential to influence the next decisions by the Fed and the RBI.

Domestic retail prices are expected to have held at 5.9% in December, which would mark the second month of inflation within the central bank’s upper target of 6%.

Investors’ risk sentiment was also muted ahead of key earnings reports by tech giants this week, after corporate results from TCS brought disappointment on Tuesday.

HCL Technologies and Infosys dropped 1.6% and 0.4%, respectively, with their results due after the bell.

Banks also closed in the red, with ICICI Bank and IndusInd Bank losing 0.5% each.