By IANS,
Mumbai : The higher than expected inflation figure of 11.05 percent hit Indian equity markets hard, almost as soon as it was announced Friday. All markets slumped as inflation hit a 13-year high.
At 12 noon, the 30-share benchmark index of the Bombay Stock Exchange (BSE), the Sensex, was down by 176.40 points or 1.17 percent at 14,911.59. It had touched a low of 14,884.66 minutes before that.
The market breadth was negative. On BSE, 627 shares advanced, 1,688 declined and 77 remained unchanged.
At the same time the broader based S&P CNX Nifty index of the National Stock Exchange was down by 85.30 points or 1.89 percent at 4,418.95.