Volatile session ends with modest gains

The market ended the volatile session with modest gains, backed by firmness in index pivotals. The barometer index, the S&P BSE Sensex, rose 131.52 points or 0.38% to 34,865.10, as per the provisional closing data. The Nifty 50 index rose 40 points or 0.38% to 10,512.50, as per the provisional closing data.

Among secondary barometers, the BSE Mid-Cap index rose 0.62%. The BSE Small-Cap index rose 1.37%. Both these indices outperformed the Sensex.

The market breadth, indicating the overall health of the market, was positive. On BSE, 1628 shares rose and 973 shares fell. A total of 184 shares were unchanged.

Infosys (up 3.34%), ITC (up 2.31%), ONGC (up 1.75%), TCS (up 1.54%), Sun Pharmaceuticals Industries (up 1.53%), Wipro (up 1.52%), HDFC Bank (up 1.44%) and Reliance Industries (up 1.11%), were the major Sensex gainers.

Mahindra & Mahindra (down 2.58%), Hindustan Unilever (down 2.34%), Axis Bank (down 1.55%), Vedanta (down 1.54%), Maruti Suzuki India (down 1.52%), ICICI Bank (down 1.51%) and Larsen & Toubro (down 1.45%), were the major Sensex losers.

On the macro front, the official Wholesale Price Index (WPI) for 'All Commodities' (Base: 2011-12=100) for September 2018 rose by 0.7% to 120.8 (provisional) from 120.0 (provisional) for the previous month. The annual rate of inflation, based on monthly WPI, stood at 5.13% (provisional) for September 2018 (over September 2017) as compared to 4.53% (provisional) for the previous month and 3.14% during the corresponding month of the previous year, Ministry of Commerce & Industry said in a statement during trading hours today, 15 October 2018.

India's industrial production (base year 2011-12=100) increased at moderate pace of 4.3% in August 2018, compared with 6.5% growth recorded in July 2018. The industrial production growth for July 2018 has been revised marginally downwards from 6.6% increase reported provisionally.

The all-India general Consumer Price Index (CPI) inflation rose marginally to 3.77% in September 2018 (new base 2012=100), compared with 3.69% in August 2018. The corresponding provisional inflation rate for rural area was 3.34% and urban area 4.31% in September 2018 as against 3.41% and 3.99% in August 2018. The core CPI inflation declined to 5.82% in September 2018 compared with 5.95% in August 2018.

Overseas, European stocks were trading lower Monday, as concerns over Brexit talks, a potential slowdown in the Chinese economy and higher US borrowing costs limited investor appetite.

Asian shares were trading lower as worries over US-China trade disputes, a possible slowdown in the Chinese economy and higher US borrowing costs tempered optimism despite a rebound in global equities late last week.

US stocks ended higher on Friday, with equities rebounding from a multi-day rout that slashed 1,400 points from the Dow Jones Industrial Average at its worst and left the Nasdaq on the precipice of a correction.

In the latest economic data, import prices rose 0.5% in September. Separately, an index of consumer sentiment fell to 99 from a previous reading of 100.1.

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