You are here: Home » News-CM » Equities » Market Report
Business Standard

Sensex, Nifty rise for 6th straight session

Capital Market 

The Sensex and the Nifty advanced for the sixth straight session ahead of industrial production data and inflation data scheduled to be released later in the day. The barometer index, the Sensex, rose 160.69 points or 0.47% to 34,101.13, as per the provisional closing data. The rose 41.50 points or 0.40% to 10,458.65, as per the provisional closing data. The Sensex reclaimed the crucial 34,000 level in intraday trade. Gains were backed by rally in IT shares and strength in select private sector banks. declined.

Key indices opened on a dull note and firmed up as the session progressed. The Sensex rose 237 points, or 0.70% at the day's high of 34,177.44 in mid-afternoon trade, its highest intraday level since 1 March 2018. The fell 15.56 points, or 0.05% at the day's low of 33,924.88 in early trade. The Nifty rose 52.75 points, or 0.51% at the day's high of 10,469.90 in mid-afternoon trade, its highest intraday level since 13 March 2018. The fell 21.90 points, or 0.21% at the day's low of 10,395.25 in early trade.

Broader market witnessed selling pressure. Among secondary barometers, the Mid-Cap index fell 0.13%. The Small-Cap index fell 0.27%. Both these indices underperformed the Sensex.

The overall market breadth was negative as 1515 stocks were declining while 1144 were advancing on the BSE.

IT shares were in demand. (up 4.25%), TCS (up 4.08%), (up 3.24%), (up 2.9%), (up 1.81%), (up 1.78%), (up 1.25%), (up 0.81%) and (up 0.42%), edged higher.

IT rose 3.43%. announces its Q4 results on Friday, 13 April 2018.

declined. (down 3.58%), Vedanta (down 2.39%), (down 1.65%), (down 1.65%), (down 1.35%), (down 1.2%), (down 1.14%), NMDC (down 0.37%) and (down 0.34%), edged lower. rose 1.40%.

On macro front, the government will announce industrial production data for February 2018 later today, 12 April 2018. India's industrial production rose by 7.5% year-on-year in January 2018.

The government will also disclose inflation data based on (CPI) for March 2017 later today, 12 April 2018. The all-general CPI inflation dipped to four-month low of 4.44% in February 2018, compared with 5.07% in January 2018.

Overseas, European markets were mixed as investor sentiment was curbed by the threat of imminent US military action in Asian shares declined after tensions and hawkish statements from the dented investors' sentiment. US stocks declined on Wednesday, as worries about geopolitical developments deflated the buying mood on Wall Street. A tweet by implied the possibility of a military strike in and set the downbeat tone for the session.

Trump's tweet that should "get ready" for a potential strike on Syria came after a over the weekend on a rebel-held town in the eastern Ghouta region of Syria. The newfound focus on geopolitics took the focus off a trade spat between the US and

Investors also digested the release of minutes from the Federal Open Market Committee's (FOMC) March meeting, which reflected that all policymakers expected the US to continue growing and for inflation to rise. Those views strengthened the belief that more interest rate hikes lay ahead.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, April 12 2018. 15:35 IST
RECOMMENDED FOR YOU
RECOMMENDED FOR YOU