Fall in inflation triggers rally; Nifty zooms 72 points

Across-the-board buying triggered by fall in inflation lifted the market as the benchmark index zoomed by over 72 points and reclaimed the 7,500 mark at the National Stock Exchange (NSE) here today.
Drop in retail inflation (CPI) to 7.31 per cent - lowest since January 2012 - and fall in Wholesale Price Index (WPI) to a four-month low of 5.43 per cent boosted the market as investors hoped for a cut in interest rates by RBI soon.
Banking, auto, finance, infra, metal and realty shares led the rally, which came after several days of downward trend.
The broad-based 50-issue CNX Nifty shot up by 72.50 points, or 0.97 per cent, to end at 7,526.65. The NSE benchmark moved in a range of 7,534.90 and 7,459.15 points.

Meanwhile, foreign portfolio investors (FPIs) offloaded shares worth Rs 558.25 crore yesterday, as per provisional data from the stock exchanges.
Top five Nifty gainers were SBI (4.42%), BoB (4.06%), ICICI Bank (3.75%), NMDC (3.57%) and BHEL (3.51%). Key losers included Dr Reddy's Lab (2.08%), NTPC (1.49%), HeroMoto Corp (1.43%), Asian Paints (1.19%) and TCS (1.11%).
Turnover in the cash segment rose to 14,489.23 crore from Rs 13,752.58 crore yesterday. A total of 8,332.8 lakh shares changed hands in 65,89,878 trades, while total market capitalisation stood at Rs 86,65,557 crore.