Sensex up 208 pts as fall in inflation fuels RBI rate cut hopes
- Spot-fixing: Petition in SC seeks stay on IPL matches, demands SIT probe
- India, China call for end to incursion issue, sign 8 deals to boost ties
- Sanjay Dutt spends restless nights as officials yet to decide on his jail
- Aarushi murder case: Rajesh Talwar claims he was asleep when killings took place
- Yahoo! says will acquire Tumblr for $1.1 bn, eyes billion visitors mark
The BSE Sensex today jumped by nearly 208 points to end at 19,570.44 on heavy buying in realty, banking and capital goods scrips as core inflation in February fell below 4 percent mark for the first time in nearly 3 years fuelling hopes of a RBI rate cut on March 19 - NSE Nifty back at 5,900 level.
The Sensex, which had lost nearly 321 points in last three sessions, recovered by 207.89, or 1.07 per cent to 19,570.44, snapping a three-day fall.
On similar lines, the broad-based National Stock Exchange index Nifty regained 5,900 level by rising 57.75 points, or 0.99 per cent to end at 5,908.95.
In 30-share Sensex, 24 stocks led by SBI (3.51 per cent), Maruti (3.43 pc), ICICI Bank (2.29 pc) and HDFC Bank (2.28 pc) and L&T (1.92 pc) ended in positive territory.
RIL, TCS, HUL and ONGC also notched up smart gains.
While 1,420 stocks rose and 1,446 counters fell in overall BSE platform, investor wealth rose by Rs 50,000 crore to Rs 66.94 lakh crore.
Wholesale Price Index (WPI) based inflation rose to 6.84 per cent in February 2013 after falling to a three-year low of 6.62 per cent in the previous month.
However, core inflation – an indicator of demand side pressures on prices – fell below the 4.0 per cent mark for the first time in past 35 months.
"This should give the RBI some elbow room to ease rates in the March 19 policy as monetary policy stance has turned more growth-supportive," said Bhupali Gursale, Economist, Angel Broking.
Besides, brokers said strong US retail sales data, a higher opening in the European markets and a mixed trend in the Asian region, further supported the domestic market.
Sectorally in Indian markets, the BSE banking index gained 2.08 per cent to 13,796.47. The BSE realty sector index ended 2.18 per cent higher at 2,107.61 with stocks of Prestige Estates rising 7.97 per cent, Unitech by 6.09 per cent and DLF
- Former Ranji player among 3 more held
- Rajasthan Royals to file FIR against tainted trio
- If found guilty, BCCI to ask ICC to erase Sreesanth records
- Top cops among 42 named in death of blast accused
- Manmohan-Li talks: PM takes tough line on incursion issue
- Security forces blame Maoists, villagers say CoBRA man was killed in 'friendly fire'