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Sensex falls 143 Points , Nifty slips 0 . 34 % as crude above USD 110 fuels inflation concerns

Indian stock markets closed lower on Wednesday after giving up early gains, as rising crude prices stoked worries about imported inflation, corporate margins and the rupee. The Nifty 50 closed at 22,811.35, down 77.60 points or 0.34 percent, while the BSE Sensex fell 143.21 points or 0.19 percent to 73,709.69. The Nifty IT index was the only major sectoral index to end higher, up 2.52 percent, while the Nifty Auto and Metal indices fell 1.99 and 1.97 percent. Brent crude rose 1.31 percent to USD 110.15 per barrel, while 24-karat gold fell 0.49 percent to Rs 1,45,803 per 10 grams. Most major Asian markets closed higher, with Hang Seng the only index among those listed to decline, down 0.95 percent.

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