Sensex up 18 pts; markets now await inflation data

After gaining 195 points yesterday on rate cut hopes, the index opened marginally higher on mixed global cues. The stock markets were in a consolidation mode and touched a day's high of 16,944.11.

The BSE benchmark index closed at 16,880.51, representing a gain of 17.71 points or 0.11 per cent. The NSE Nifty also closed 5.55 points up at 5,121.45.

Capital goods shares including L&T (2.6 pc) and FMCG scrips including HUL (3.03 pc) firmed up sharply on good buying while auto stocks, including Maruti and Tata Motors, fell in 2-3 per cent range on reports government might impose additional tax on diesel vehicles.

After April IIP figures showed a meagre 0.1 per cent rise, brokers said market now is awaiting inflation data, expected at 7.5 per cent.

Out of the 30-share Sensex, 18 stocks including Sterlite (2.21 pc) and NTPC (2.16 pc) ended lower while 12 scrips including ONGC (2.83 pc) and Sun Pharma (2.1 pc) rose.

"Markets largely consolidated ahead of inflation numbers that are expected to come out tomorrow. Now the inflation numbers would have a lot of influence on RBI policy," said Milan Bavishi, Head Research, Inventure Growth and Securities.

Meanwhile, the rupee was trading at day's high of 55.65 compared to yesterday's close of 55.80.

Globally, Asian stocks ended higher today on hopes that policy makers around the globe would step in to limit the Eurozone crisis, while European shares were trading narrowly mixed in early trade ahead of this weekend's key Greek polls. (MORE)