Nifty edges lower; energy stocks fall

MUMBAI (Reuters) - The Nifty edged lower, snapping a three-day winning streak, dragged down by energy stocks such as Oil and Natural Gas Corp tracking fall in crude prices, while profit-taking hit some of the recent outperformers.

However, losses were limited as interest rate-sensitive stocks gained after a better-than-expected December retail inflation data raised hopes that the central bank would cut rates in February.

Brent and U.S. WTI crude oil prices fell to their lowest levels in almost six years on Tuesday as a big OPEC producer stood by the group's decision not to cut output to tackle a glut in the market.

 

The benchmark BSE Sensex closed down 0.58 percent at 27,425.73, while the broader Nifty ended 0.28 percent lower at 8,299.40.

OIl and Natural Gas Corp ended 2.2 percent lower, while Reliance Industries fell 0.8 percent.

Shares in Infosys , which had gained 7.2 percent after its earnings on Friday, fell 1.3 percent on profit-taking.

(Reporting by Indulal PM; Editing by Anand Basu)