Equity benchmark indices Sensex and Nifty closed higher on Wednesday, buoyed by a sharp decline in retail inflation to a near six-year low of 3.16% in April. The easing inflation has raised expectations of a possible rate cut by the Reserve Bank of India in its upcoming June monetary policy review.
The 30-share benchmark index ended at 81330.56 up by 182.34 points or by 0.22 % and then NSE Nifty was at 24666.9 up by 88.55 points or by 0.36 %.
Sensex touched intraday high of 81691.87 and intraday low of 80910.03 The NSE Nifty touched intraday high of 24767.55 and intraday low of 24535.55
The top gainers of the BSE Sensex pack were Sun Pharmaceutical Industries Ltd. (Rs. 1700.35,+0.84%), Adani Ports & Special Economic Zone Ltd. (Rs. 1369.50,+0.48%), Bajaj Finance Ltd. (Rs. 9042.55,+0.29%), Titan Company Ltd. (Rs. 3563.80,+0.07%), State Bank of India (Rs. 801.90,+0.04%), among others.
The top losers of the BSE Sensex pack were Infosys Ltd. (Rs. 1569.10,-3.54%), Power Grid Corporation of India Ltd. (Rs. 298.55,-3.40%), Eternal Ltd. (Rs. 231.75,-3.38%), HCL Technologies Ltd. (Rs. 1620.45,-2.95%), Tata Consultancy Services Ltd. (Rs. 3515.95,-2.88%), among others.
Metal index was at 30569.71 up by 734.75 points or by 2.46%. Jindal Stainless Ltd. (Rs. 625.50,+2.43%), APL Apollo Tubes Ltd. (Rs. 1725.35,+0.62%), Jindal Steel & Power Ltd. (Rs. 909.45,+0.51%), Coal India Ltd. (Rs. 395.55,+0.03%),.
Bankex index was at 62371.6 down by -209.85 points or by -0.34%. IndusInd Bank Ltd. (Rs. 770.35,-2.32%), HDFC Bank Ltd. (Rs. 1923.10,-1.76%), Kotak Mahindra Bank Ltd. (Rs. 2115.85,-1.41%), ICICI Bank Ltd. (Rs. 1431.10,-1.28%), Axis Bank Ltd. (Rs. 1193.95,-0.84%),.
The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 4413 , shares advanced were 2676 while 1580 shares declined and 157 were unchanged.