BrahMos WORLD INDIA MADHYA PRADESH BHOPAL SPORTS BUSINESS FUN FACTS ENTERTAINMENT LIFESTYLE TRAVEL ART & LITERATURE SCIENCE & TECHNOLOGY HEALTH EDUCATION DIASPORA WTN SPECIAL OPINION & INTERVIEW GOSSIP CORNER RECIPES DRINKS BIG MEMSAAB 2017 BUDGET 2017 FUNNY VIDEOS VIRAL ON WEB PICTURE STORIES Mahakal Ke Darshan
ABOUT US PRIVACY POLICY SITEMAP CONTACT US
logo
Breaking News

Easing inflation data lifts equity indices (Roundup)

Monday - April 16, 2018 6:36 pm , Category : BUSINESS
 Easing inflation data lifts equity indices (Roundup)
Easing inflation data lifts equity indices (Roundup)

Mumbai April 16 (IANS) Healthy macro-economic data along with expectations of robust quarterly corporate earnings led the key Indian equity indices to close on a higher note for the eighth consecutive session on Monday.



According to market observers weak Asian cues on the back of geo-political tensions in Syria led to initial volatility in the domestic bourses.

However losses were trimmed during the mid-afternoon trade session and the indices moved higher riding on easing wholesale inflation data for March coupled with healthy buying in healthcare fast moving consumer goods (FMCG) and capital goods stocks.

The wider Nifty50 on NSE closed at 10 528.35 points -- up 47.75 points or 0.46 per cent from its previous close.

The barometer 30-scrip Sensitive Index (Sensex) of the BSE which opened at 33 944.73 points closed at 34 305.43 points -- up 112.78 points or 0.33 per cent from its previous session s close.

The Sensex touched a high of 34 341.46 points and a low of 33 899.34 points during the intra-day trade.

The BSE market breadth was however bearish with 1 463 declines and 1 211 advances.

In the broader markets the S&P BSE mid-cap index edged higher by 0.34 per cent and the small-cap index by 0.56 per cent.

"Markets moved up further on Monday after a weak opening. It was nevertheless the eighth consecutive session of gains and came ahead of the release of first forecast for 2018 monsoon rains by India Meteorological Department (IMD) " Deepak Jasani Head of Retail Research for HDFC Securities told IANS.

"A fall in WPI (Wholesale Price Index) for March to 2.47 per cent also helped sentiments " he added.

Official data released during market hours showed that India s WPI inflation softened to 2.47 per cent in March from a rise of 2.48 per cent reported for February and acceleration of 5.11 per cent in the corresponding month of last year.

"Markets in India opened with a gap down as they followed the negative tone set by their Asian peers " said Abhijeet Dey Senior Fund Manager Equities BNP Paribas Mutual Fund.

"However a bout of volatility and some stable macro-economic updates later benchmark indices in India regained lost ground to finally close the day with gains."

On the currency front the Indian rupee weakened by 29 paise to 65.50 against the US dollar from its Friday s close at 65.21.

In terms of investments provisional data with the exchanges showed that foreign institutional investors sold scrips worth Rs 308.13 crore while the domestic institutional investors sold stocks worth Rs 28.97 crore.

Sectorwise the S&P BSE healthcare index rose by 151.42 points followed by FMCG index which rose 102.30 points and capital goods index by 85.04 points.

On the other hand the S&P BSE IT index fell by 99.25 points consumer durables index by 48.57 points and Teck (technology media and entertainment) index by 46.90 points.

Major Sensex gainers on Monday were: Kotak Bank up 1.88 per cent at Rs 1 170.05; Hero MotoCorp up 1.84 per cent at Rs 3 798.05; Bajaj Auto up 1.81 per cent at Rs 2839.80; Mahindra and Mahindra up 1.66 per cent at Rs 801.20 per share; and HDFC up 1.64 per cent at Rs 1 870.70.

The top Sensex losers were: Tata Motors down 4.96 per cent at Rs 338.95; Tata Motors (DVR) down 4.59 per cent at Rs 193.50; Infosys down 3.10 per cent at Rs 1 132.80; Wipro down 1.16 per cent at Rs 289.95 per share; and State Bank of India down 0.76 per cent at Rs 249.30.

--IANS
rrb-rv-ppg/vm

RELATED NEWS