MUMBAI: Benchmarks were at day’s highs and around crucial support levels after more than expected decline in inflation lifted market sentiments. Interest rate sensitive sectors were in demand on expectations of a further cut in interest rates.
Wholesale price index rose 6.84 per cent in the 12 months to Dec 6, below the previous week's annual rise of 8 per cent. It was below a median forecast of 7.49 per cent in a poll of analysts.
At 2pm, Bombay Stock Exchange’s Sensex was at 10,009, up 293.95 points or 3.03 per cent. The index touched an intra-day high of 10,015.58 and a low of 9633.04.
National Stock Exchange’s Nifty was at 3032.25, up 2.64 per cent or 77.90 points. The 50-share index hit an intra-day high of 3040.30 and a low of 2922.65.
BSE Midcap Index was up 1.39 per cent and BSE Smallcap Index moved 0.43 per cent up.
All the sectoral indices were in the green. BSE Realty Index was up 5.31 per cent, BSE Bankex moved 5.08 per cent higher and BSE Power Index jumped 4.08 per cent.
Satyam Computer Services (7.21%), DLF (6.20%), ACC (5.90%), State Bank Of India (5.89%) and ICICI Bank (5.87%) were the top Sensex gainers.
Sterlite Industries (-2.23%), Tata Steel (-2.10%), Hindalco Industries (-1.93%) and ONGC (-0.08%) were amongst the major Sensex losers.
Market breadth was positive on the BSE with 1288 advances and 1021 declines.
Courtesy: economictimes.indiatimes.com
Chandramugi part 2
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