Mumbai, Dec 12 (IANS): The Indian stock market closed lower on Thursday ahead of the CPI data as selling was seen in the media and FMCG sectors.

At closing, Sensex settled at 81,289.96 down by 236.18 points, or 0.29 per cent and Nifty ended at 24,548.70 down by 93.10 points, or 0.38 per cent.

According to experts, "the market continued to remain range bound ahead of domestic CPI data and weakening rupee. Though inflation is anticipated to drop, investors are maintaining a close vigil on the vegetable prices, which will determine the future rate trajectory."

"Nifty IT index reached a new high after US inflation data met expectations, boosting hopes for a Fed rate cut next week," they added.

Nifty Bank ended at 53,216.45, down by 174.90 points or 0.33 per cent. The Nifty Midcap 100 index closed at 59,021.70 at the end of trading after falling 271.25 points or 0.46 per cent.

Nifty Smallcap 100 index closed at 19,466.55 after dropping 190.80 points or 0.97 per cent.

On the Bombay Stock Exchange (BSE), 1,491 shares ended in green and 2,508 in red, whereas there was no change in 106 shares.

In the Sensex pack, NTPC, Hindustan Unilever, Tata Motors, Maruti, L&T, Reliance, Asian Paints, SBI, Kotak Mahindra Bank, ITC, Nestle India and Titan were the top losers in the Sensex pack. Bharti Airtel, IndusInd Bank, Tech Mahindra, Infosys, Adani Ports, TCS, Power Grid, JSW Steel, HCL Tech, ICICI Bank and Bajaj Finance were the top gainers.

The rupee closed stable at 84.86 per dollar on Thursday, while the previous closing level of the Indian rupee was 84.84.