Consistent buying in financial, oil & gas, infrastructure, metal, healthcare, technology and Anil Dhirubhai Ambani Group (ADAG) companies' shares was supporting the Nifty to hit the 5500 level. The Sensex too was trading with more than 100 points gains at 11:57 hours IST.
Heavyweights Reliance Industries, NTPC, HDFC, Infosys, ICICI Bank, Wipro and L&T gained 1-2%. Among others, ONGC, SBI, TCS, ITC and HDFC Bank gained 0.4% each.
However, auto stocks like Tata Motors, Maruti Suzuki and Bajaj Auto were on sellers' radar with 1% fall. After the massive 8.9 magnitude earthquake and tsunami on Friday, Japan has been battling hard to prevent a nuclear catastrophe and carry on rescue operations for millions of people without power or water in its worst crisis since World War II. Suzuki is the parent company of Maruti Suzuki, based in Japan.
The 30-share BSE Sensex went up 130 points to 18,304 and the 50-share NSE Nifty climbed 42 points to 5,487. The broader indices were marginally in green today.
India's wholesale price index (WPI) rose an annual 8.31% in February on higher fuel and manufactured product prices, government data showed on Monday. The figure was well above the median forecast for a 7.79% rise in a Reuter’s poll and was higher than the annual rise of 8.23% in January.
Jonathan Cavenagh, senior FX strategist, institutional FX sales, Asia, at Westpac Institutional Bank, Singapore, said, "The data came in stronger than expected, a trend that has been evident in Indian inflation data for much of the 6 months or so."
"Inflation is coming down but not at a pace quick enough for the RBI I would suspect. We have seen Indian equities trade a touch softer after the print but it hasn't been a dramatic move lower. Same goes for the currency. This reinforces our view that the RBI will raise the repo rate by 25 bps this Thursday."
Reliance Capital rallied 6% as Nippon will acquire 26% stake in Reliance Life by investing Rs 3,062 crore. Transaction has pegged Reliance Life Insurance at USD 2.6 billion.
However, Suzlon Enegy was the biggest loser on Nifty with 3% decline.
Breadth was in favour of advances; about 729 shares advanced as against 501 shares declined on the National Stock Exchange.
However, auto stocks like Tata Motors, Maruti Suzuki and Bajaj Auto were on sellers' radar with 1% fall. After the massive 8.9 magnitude earthquake and tsunami on Friday, Japan has been battling hard to prevent a nuclear catastrophe and carry on rescue operations for millions of people without power or water in its worst crisis since World War II. Suzuki is the parent company of Maruti Suzuki, based in Japan.
The 30-share BSE Sensex went up 130 points to 18,304 and the 50-share NSE Nifty climbed 42 points to 5,487. The broader indices were marginally in green today.
India's wholesale price index (WPI) rose an annual 8.31% in February on higher fuel and manufactured product prices, government data showed on Monday. The figure was well above the median forecast for a 7.79% rise in a Reuter’s poll and was higher than the annual rise of 8.23% in January.
Jonathan Cavenagh, senior FX strategist, institutional FX sales, Asia, at Westpac Institutional Bank, Singapore, said, "The data came in stronger than expected, a trend that has been evident in Indian inflation data for much of the 6 months or so."
"Inflation is coming down but not at a pace quick enough for the RBI I would suspect. We have seen Indian equities trade a touch softer after the print but it hasn't been a dramatic move lower. Same goes for the currency. This reinforces our view that the RBI will raise the repo rate by 25 bps this Thursday."
Reliance Capital rallied 6% as Nippon will acquire 26% stake in Reliance Life by investing Rs 3,062 crore. Transaction has pegged Reliance Life Insurance at USD 2.6 billion.
However, Suzlon Enegy was the biggest loser on Nifty with 3% decline.
Breadth was in favour of advances; about 729 shares advanced as against 501 shares declined on the National Stock Exchange.
No comments:
Post a Comment