Indian equities closed slightly lower on Thursday as investors exercised caution ahead of the release of domestic inflation and industrial output data later in the day.
According to a report from Union Bank of India, the growth in industrial production, as measured by the Index of Industrial Production (IIP), likely improved to 3.7% year-over-year in October, up from 3.1% in the previous month.
Retail inflation, as indicated by the Consumer Price Index (CPI), is anticipated to have eased to 5.5% in November, attributed to a decrease in food prices, according to a report from Morgan Stanley.
Overall losses were mitigated by positive signals from global markets, after U.S. CPI data met expectations, bolstering the anticipation of an interest rate cut from the Federal Reserve next week.
Market participants anticipate the Federal Reserve to implement a 25-basis point rate reduction on December 18, following the alignment of both headline and core U.S. inflation rates with market forecasts.
The benchmark S&P BSE Sensex concluded the session with a decline of 236.18 points, or 0.29%, closing at 81,289.96, while the broader NSE Nifty index fell by 93.10 points, or 0.38%, ending at 24,548.70.
In the Nifty pack, shares of Adani Ports, Tech Mahindra, IndusInd Bank, Bharti Airtel, and Adani Enterprises saw gains of 1-2%, whereas BPCL, Hero MotoCorp, Coal India, Hindustan Unilever, and NTPC declined by 2-3%.
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