Strong IIP data boosts markets; NSE Nifty soars 45 points

The benchmark CNX Nifty today settled at its highest level in 2013 with a massive 45 points jump at the National Stock Exchange (NSE) on heavy buying in FMCG, auto and financial stocks as stronger-than-expected industrial output in March data lifted investor confidence.
Global buoyancy and consistent buying by foreign funds further boosted the positive sentiment.
Trading began on a weak note amid cautious tone ahead of the much-awaited industrial production data. However, brushing off initial sluggishness and volatility, a fresh wave of buying spree in afternoon following positive IIP data sent the key index above the important 6,100 mark briefly before closing with handsome gains.

Industrial production grew by 2.5 per cent in March easing concerns over worsening investment recovery. FMCG, auto, finance and pharma stocks were in keen demand, while infra, energy and metal witnessed intense selling pressure.
On the global front, Asian markets closed higher with the Japanese equities surging to hit a 5-1/2-year peak on back of weaker yen and robust earnings. European stocks were higher in afternoon boosted by upbeat earnings and better-than- expected trade balance data from Germany.
Meanwhile, Wall Street stocks retreated from their uninterrupted record-setting rally to end marginally lower.

The 50-share Nifty rallied to touch a high of 6,105.30 before finishing at 6,094.75, posting a smart rise of 44.60 points, or 0.32 per cent, over the last close.

Carmaker Maruti Suzuki topped the gainers' list with the stock surging by over 4 per cent following sharp plunge in yen amid optimism over higher profit margins.
Other gainers included Indusind Bank, Tata Motors, ITC, ACC, Hindalco, Lupin, NMDC, M&M and HDFC Bank. Top losers were Coal India, Jindal Steel, PNB, NTPC, UlraTech, Reliance, Sun Pharma, Power Grid, HDFC and IDFC.
Turnover in the cash segment dropped to Rs 9,714.87 crore from Rs 10,085.46 crore yesterday. A total of 5,182.77 lakh shares changed hands in 51,37,079 trades. Market capitalisation stood at Rs 66,34,033 crore.