Comments
The Nifty and the Sensex closed marginally in the green on softening inflation numbers led by banking stocks.
The Nifty closed at 5,568 up 40 points while the Sensex closed at 18,358 up 115 points.
“There are mixed signals for FY14 inflation outlook and monetary policy. Commodity prices are low and its impact on inflation will largely be governed by the movement of currency. Higher current account deficit in Q3FY12 suggests continuation of present monetary policy stance and even some tightening. The decline in the Chinese Q1CY13 GDP growth to 7.7 per cent from 7.9 per cent in Q4CY12 may lead to a softening of commodity prices in India; however, geo-political risks always have its clouds over oil prices” said D K Pant Chief Economist and Head — Public Finance, India Ratings.
FIIs sold equity worth Rs 418 crore while DIIs were net buyers of Rs 297 crore worth of equity.
Banking sector indices on the NSE and the BSE rose about a per cent.
Volatility was up one per cent and the volatility index, India Vix closed at 16.61.
BPCL, Bank of Baroda, ONGC, PNB and SBI were the top five Nifty gainers while Sesa Goa, Dr Reddy, TCS, DLF and Tata Motors were the top losers.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.