Sensex closes 95 points up as inflation dips

A benchmark index of Indian equities markets Tuesday closed almost 95 points higher on lower-than-expected inflation data and positive global cues.

The Sensex touched a high of 17,753.43 points and a low of 17,572.34 points in intra-day trade.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,631.64 points, closed 17,728.20 points, 0.54 percent or 94.75 points up from its previous day’s close at 17,633.45 points.

The BSE oil and gas index was up 106.72 points, and the banking index, up 129.12 points.

The wider 50-scrip S&P CNX Nifty of the National Stock Exchange (NSE) was ruling 0.61 percent up at 5,380.35 points.

The markets rebounded after official data showed headline inflation, based on wholesale price index (WPI), fell to 6.87 percent in July from 7.25 percent in the previous month.

The major Sensex gainers were Tata Motors, up 2.85 percent at Rs.234.90; Tata Steel, up 2.63 percent at Rs.406.05; Jindal Steel, up 2.47 percent at Rs.417.70; ICICI Bank, up 2.05 percent at Rs.969.10; and ONGC, up 1.82 percent at Rs.285.90.

The main Sensex losers were Sun Pharma down 2.10 percent at Rs.667.70; HDFC, down 1.78 percent at Rs.702.60; Sterlite Inds, down 1.27 percent at Rs.112.50; Bajaj Auto, down 0.97 percent at Rs.1,691.45; and Hindalco Inds, down 0.91 percent at Rs.120.15.

Among other Asian markets, Japan’s Nikkei closed up 0.50 percent while Shanghai’s composite index closed 0.30 percent up. Hong Kong’s Hang Seng closed 1.05 percent up.

At closing bell here, European markets were in green too. France’s CAC was up 0.25 percent. Germany’s DAX and Britain’s FTSE 100 were up 0.63 percent and 0.38 percent respectively.