Post Session: Sensex ends 30 pts higher as inflation eases; broader markets outperform

14/10/2016 15:59

The Indian equities ended tad higher on Friday, helped by strong buying across broader markets, as easing inflation bolstered the case for further interest rate cuts from the Reserve Bank of India, boosting risk taking appetite. Further gains in index heavyweights such as TCS, RIL, Tata Motors, GAIL, ONGC, L&T and Power Grid Corp also gave a lift to market sentiments.

The 30-share BSE SENSEX closed at 27673.6, up by 30.49 points or by 0.11 per cent, and the NSE Nifty ended at 8583.4, up by 10.05 points or by 0.12 per cent.

Early today, India’s wholesale price index (WPI), the price of a representative basket of wholesale goods, eased to 3.57 per cent in September from 3.74 per cent in August, bolstering the case for further interest rate cuts from the Reserve Bank of India.

During the day’s trade, the BSE Sensex touched intraday high of 27763.54 and intraday low of 27548.18, while the NSE Nifty touched intraday high of 8604.45 and intraday low of 8549.8.

The top gainers of the BSE Sensex pack were GAIL (India) Ltd. (Rs. 430.35,+4.05%), Larsen & Toubro Ltd. (Rs. 1472.50,+2.51%), Tata Motors Ltd. (Rs. 555.45,+2.05%), Reliance Industries Ltd. (Rs. 1078.20,+1.94%), Power Grid Corporation of India Ltd. (Rs. 177.40,+1.69%), among others.

On the flip side, Infosys Ltd. (Rs. 1027.40,-2.34%), Hindustan Unilever Ltd. (Rs. 841.95,-2.32%), Housing Development Finance Corporation Ltd. (Rs. 1319.20,-1.44%), Lupin Ltd. (Rs. 1464.30,-1.09%), Coal India Ltd. (Rs. 313.05,-0.86%), were among top losers on the BSE.

On the sectoral front, oil&gas and capital goods stocks were among top gainers on BSE, adding as much as 2.2 per cent and 1.56 per cent respectively.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 3140, shares advanced were 1797 while 1149 shares declined and 194 were unchanged.

On the global front, most of the Asian stocks ended higher after positive China inflation data signaled some strength in the world’s second biggest economy. Shanghai Composite settled with slim gain despite the positive inflation data, Hang Seng rose 0.9 per cent and Nikkei 225 closed 0.5 per cent higher.

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