Nifty up 10 pts on easing inflation, global cues

The NSE 50-share Nifty recovered by 10 points to end at 8,583.40 on fresh buying mainly in Infra, Energy, Realty and PSU Bank counters in view of a fall in inflation amid higher global cues.
Retail inflation in September dropped to a 13-month low of 4.31 per cent mainly on account of easing vegetables prices.
Wholesale inflation also eased to 3.57 per cent in September as food articles, led by vegetables, witnessed softening of prices.
Overseas, Asian stocks ended higher, reversing some early losses, as investors weighed price increases in China and the possibility of a US interest rate hike later in the year.

Key indices in China, Hong Kong, Japan, Singapore and South Korea rose by 0.08 per cent to 0.88 per cent, while Taiwan's weighted average eased by 0.59 per cent.
The NSE 50-share index opened higher at 8,594.00 and hovered in a range of 8,604.45 and 8,549.80 before finishing at 8,583.40, showing a gain of 10.05 points or 0.12 per cent.

Major gainers were Gail India (4.04 per cent), followed by L&T (2.53 per cent), Tata Motors (2.06 per cent) and Reliance Industries (1.94 per cent).
However, Zee fell by 3.30 per cent, Bharti Infratel 2.44 per cent, Infosys 2.39 per cent, HUL 2.30 per cent and Idea 1.78 per cent.

A total of 1,037 scrips advanced, 575 declined while 81 remained unchanged. Total securities that hit their price bands were 104.
Turnover in cash segment fell to Rs 20,518.22 crore from Rs 23,622.24 crore yesterday.
A total of 9,547.69 lakh shares changed hands in 7,896,477 trades. The market capitalisation of NSE stood at Rs 11,021,299 crore.