Sensex hovers around 32K; Nifty Bank recovers after WPI inflation eases

Equity benchmarks continued to trade lower in afternoon, though the losses trimmed as Nifty Bank gained strength after WPI inflation eased significantly to 0.9 percent in June from 2.17 percent in previous month.

The fall in WPI as well as CPI inflation raised hopes for rate cut by RBI in August monetary policy.

The 30-share BSE Sensex was down 39.33 points at 31,998.05 and the 50-share NSE Nifty fell 19 points to 9,872.70. About two shares declined for every share rising on the BSE.

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