INSUBCONTINENT EXCLUSIVE:
NEW DELHI: An uptick in IIP data kept market in good humour as headline indices Sensex and Nifty rose for the third straight day just ahead
of the US Fed policy outcome today.
Most analysts expect that a rate hike this time around is almost a done deal.
Industrial production in
India picked up 4.9 per cent in April compared with 4.5 per cent in March
Manufacturing, mining and electricity all contributed to the recovery
Mood remained fragile because May inflation surged to 4.87 per cent from 4.58 per cent in April
Rising inflation may push the RBI to more rate hikes in the current fiscal.
Both set of numbers were released after market hours of Tuesday
The Sensex climbed 47 points, or 0.13 per cent, to finish at 35,739, with 16 stocks advancing and 15 declining
The Nifty ended the day at 10,857, up by 14 points or 0.13 per cent
Overall, 28 stocks closed the day in the green in the Nifty pack
A total of 22 settled in the red.
IT, pharma, bank and energy stocks witnessed buying interest
A muted show in FMCG, capital goods, metal and telecom pulled back the benchmarks.
In the broader market, BSE Midcap and Smallcap indices
incurred losses, closing the day 0.46 per cent and 0.21 per cent down, respectively
Dr Reddy's, TCS, State Bank of India and Infosys were among the top Sensex gainers
On the other hand, the losers included Tata Steel, Bharti Airtel and Hindustan Unilever.
Tata Consultancy Services (TCS) was up 2.43 per
India's largest software firm will consider a proposal to buy back shares at its board meeting to be held later this week
An all-clear from the USFDA to Sun Pharmaceuticals' Halol plant in Gujarat drove the stock nearly 4 per cent up
However, the stock cooled off later and closed 0.95 per cent up at Rs 545.65 on the BSE.
Page Industries settled 4 per cent up on the
extension of its licence agreement with Jockey International
BSE sectoral indices portrayed a mixed picture
Out of total 19 sectors on the BSE, 12 were in fine nick and 7 went off-track
BSE Telecom ended as the top loser while BSE IT won big.
World stocks came off their one-month highs, with investor focus turning focus to
an expected US interest rate rise and the risk of a fresh outbreak of trade tensions between China and the United States, Reuters reported.
