Equity benchmarks gained strength in the afternoon trade with the Nifty reclaiming 8,550 for the first time since August 11, 2015, as it rose 21.65 points to 8,541.15.
On the other hand, Sensex was up 71.50 points at 27,886.68 after the India's wholesale price index (WPI) rose 1.62 percent year-on-year in the month of June as compared to 0.79 percent in May.
The increase was driven by increases in food articles, minerals as well as fuel and power, apart from the base effect.
The primary articles index was up 2.9 percent while non-food articles rose 2.1 percent.
Minerals group and fuel and power were up 6.9 percent and 3.4 percent respectively. Manufactured products were up 0.2 percent, indicating pricing power of India Inc is yet to recover following one-and-a-half years of deflation that ended a few months back.
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