Nifty ends above 5850 despite rising inflation

The BSE Sensex ended at 19,602 adding 131 points. While, NSE Nifty gained by 33 points to close at 5,884.

The Indian markets extended its winning streak to third straight trading session on Thursday ending a truncated week on a positive note. Markets started off with in the green amid gains in the equity markets across the globe. However, key indices saw a sharp decline after the weekly inflation data dampened the sentiments.
The annual rate of inflation in the food space rose in the second week of April but stayed below the double digit mark for the fourth straight week. India’s food inflation increased to 8.74% in the week ended April 9 from 8.28% in the previous week.



The Metals, Oil & Gas, Realty and the FMCG stocks were among the major gainers today, while, the Capital Goods, IT and the Power stocks were under pressure. The Mid-Cap and the Small-Cap index remained almost unchanged.

Shares or Reliance Industries was in demand ahead of the quarterly results to be announced later in the day. The stock gained 1.5%. While, TCS fell sharply post Q4 numbers. Shares of Unitech, DB Realty and ADAG companies recovered slightly after they fell sharply in the previous trading session. SBI rose over 2% after it closed its controversial teaser loan scheme.

“Markets may turn volatile in the coming days amid F&O expiry next week. Traders and investors would also look forward for results to be announced by the Corporate Inc. Technically, near-term support is likely at 5700 for the Nifty. If the momentum sustains, there are possibilities that the Nifty may touch 5950” says Amar Ambani, Head of Research (India Private Clients) - IIFL.

The BSE Sensex ended at 19,602 adding 131 points. It had earlier touched a day's high of 19,696 and a day's low of 19,530. It opened at 19,582. While, the NSE Nifty gained by 33 points to close at 5,884.

Among the BSE sectoral indices, the BSE Metal index was the top gainer, the index gained 1.6% followed by BSE Oil & Gas index gained 1.3%, while, BSE Realty index gained 0.8%. BSE Mid-Cap index and BSE Small-Cap index ended almost flat.

The European markets were trading in the green, the FTSE index was up 0.2%, CAC index was up 0.5% and DAX index was up 0.7%.

Outside the index, the major gainers were Apollo Tyres, Petronet LNG, GE Ship and DB Realty. Among the major losers were IB Real Estate, GMR Infra, Yes Bank and PFC.