The Sensex at the Bombay Stock Exchange closed 114 points, or 0.7 per cent lower, at 16,038, today, amid rising inflation. The Nifty at the National Stock Exchange fell 25 points, or 0.5 percent, to 4,802. Asian markets in China, Hong Kong, Singapore and South Korea were closed today for the Lunar New Year holiday. But Japan's Nikkei index fell 0.8 per cent.