Disappointing macro data hits markets

Mumbai: Disa-ppointing macro estimates on Wednesday laid investors low as the Sensex and the Nifty squandered their early advantage and ran into losses ahead of the start of the earnings season.

The International Monetary Fund (IMF) yesterday lowered India’s growth projection to 6.7 per cent in 2017, lower than its earlier estimate, unnerving investors, analysts said. The Nifty cracked and slipped below 10,000 as investors went around picking profit.

Caution remained the byword as June-September quarterly results kick off tomorrow, with TCS set to get off the block, and RIL the next on Friday. Data on industrial production for August and consumer inflation for September is also lined up for Thursday.