Indian stock markets traded higher on Wednesday with Sensex zooming 185 points after the retail inflation rose to a four-month high in May following the rising prices of food items such as fruits, vegetables and higher fuel bills.
Indian stock markets traded higher on Wednesday with Sensex zooming 185 points after the retail inflation rose to a four-month high in May following the rising prices of food items such as fruits, vegetables and higher fuel bills. According to the data available with CSO (Central Statistics Office), the CPI-based inflation jumped to a 4-month high level of 4.87% in May 2018 as compared to 4.58% and 2.18% in months of April 2018 and May 2017, respectively. The S&P BSE Sensex index advanced nearly 185 points to hit a day’s high of 35877.41 while NSE Nifty 50 benchmark added 46.05 points to a day’s high of 10,888.9 on Wednesday.
In today’s session, up until 10:30 am, shares of TCS (Tata Consultancy Services), Sun Pharmaceuticals led the turnover counters while the stock of Anil Ambani’s telecom company RCom (Reliance Communications) topped the volume. TCS share price on NSE saw an appreciation of 2.25% to Rs 1,821 while the share price of Dilip Shanghvi-led Sun Pharma rose 3.79% to Rs 560.95 on NSE today.
Shares of Rajesh Gopinathan-led IT behemoth TCS were in focus on Wednesday after Tata Group’s cash cow said that the board will consider a share buyback program in its meeting scheduled on 15 June. The turnover in the shares of TCS was recorded at the second-highest level among all the listed scrips on NSE. As at 10:50 am, Rs 413 crore worth of equity shares were exchanged on National Stock Exchange.
On the other hand, shares of Sun Pharma emerged as the turnover topper with a Rs 567 crore of equity shares being traded. Other shares which also posted heavy turnovers include Indiabulls Housing Finance (Rs 428 crore), SBI (Rs 336 crore) and Dr Reddy’s (Rs 317 crore).
On the volume counters, shares of Anil Ambani telecom firm RCom (Reliance Communications) were the second-most traded stock on NSE with 2.6 crore equity shares being traded up until the time of writing. Dish TV shares were the most traded scrip on NSE today with 4.05 crore equity shares being exchanged. Other top volume movers on NSE are Kwality, SBI and Ruchi Soya with 2.2, 1.22 and 1.14 crore equity shares traded, respectively.