<p>Investors live in exciting times. Just when the Greece crisis made some headway with the nation reaching a deal with its European creditors on Monday (July 13), bringing relief to thousands of investors back at home, the markets witnessed volatility in the backdrop of mixed cues from domestic data front.<br><br>Sensex closed 28.29 points lower at 27,932.90 on Tuesday, while Nifty closed at 8,454.10, down 0.07 per cent. The fall in both the indexes can be attributed to the worse-than-expected retail inflation data that shattered hopes of an interest rate cut by the RBI. As per government<br>data, higher food prices pushed India's retail inflation to an eight-month high in June.<br><br>“Initially, the mood was subdued in reaction to the CPI inflation data, which surged to eight month high of 5.4 per cent, announced post<br>market on Monday,” said Jayant Manglik, President, Retail Distribution, at Religare Securities Ltd. “As the day progressed, sentiments got some support after the WPI inflation fell to -2.4 per cent lower than previous month’s number of -2.35 per cent,” he added. Today, majority of sectoral indices closed flat while stock specific move kept the traders busy.<br><br>Commenting on the headline inflation for June 2015, Chandrajit Banerjee, Director General at CII noted that the WPI inflation print has continued to move into the negative territory for the eighth consecutive month. Coming close on the heels of a moderate rise in retail prices, the inching down of WPI inflation is sure to lift market sentiment. The decline in wholesale price inflation is attributed to the deceleration in food prices even as there is a marginal uptick in fuel & power inflation.<br><br>Market experts, however, said that the overall market sentiment is still positive even as there may be some volatility in the near future due to the ongoing earning season.</p>
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