Sensex and Nifty closed with marginal upside on Thursday as Wholesale inflation rose to a four-month high of 3.24% in August as prices of food articles, led by onions and vegetables, soared.
Sensex and Nifty closed with marginal upside on Thursday as Wholesale inflation rose to a four-month high of 3.24% in August as prices of food articles, led by onions and vegetables, soared. BSE Sensex ended 0.17% higher at 32,241.93 points while NSE Nifty settled 0.07% higher at 10,086.6 points. Inflation based on the wholesale price index (WPI) was 1.88% in July 2017 and 1.09% in August 2016.
The stock of Axis Bank (up 4.25%), Sun Pharma (up 4.05%), Adani Ports (up 3.96%), Tata Motors (up 3.44%), Cipla (up 1.9%), and Dr Reddy’s Laboratories (up 1.81%) were the top gainers whereas Wipro (down 4.1%) was the biggest loser on the 30-share barometer Sensex today. Shares of Axis Bank, Tata Motors, Sun Pharma, Infosys, Adani Ports, and ICICI Bank contributed the most to the Sensex rise while Wipro, Reliance Industries, Kotak Mahindra Bank, and HDFC capped the gains. Collectively the previous five stocks added about 135 points while the later four washed away around 50 points from the index.
Shares of the oil marketing companies recovered in early trade today after Oil Minister Dharmendra Pradhan yesterday ruled out government intervention to disrupt the daily revision in petrol and diesel prices ended little higher with Indian Oil Corporation (up 0.93%), Bharat Petroleum Corporation (up 0.16%) and Hindustan Petroleum Corporation (up 0.66%).
Shares of Mukesh Ambani-led oil-to-telecom conglomerate Reliance Industries gained marginally to hit a fresh record high. The stock of RIL today rose 1.47% to Rs 861.5 on NSE. Shares of the fifth-largest bank Yes Bank advanced over 1% to hit a fresh lifetime high today. The stock of Yes Bank rose as much as 1.47% to Rs 1,866 on NSE. The shares of FMCG giant Hindustan Unilever also gained 0.9% to hit a fresh all-time high of Rs 1,262.1 while Asian Paints rose 0.56% to Rs 1,262, respectively on NSE.
Meanwhile, BHEL shares were the top gainer among the blue-chip stocks as it inched up 10.2% to the day’s high of Rs 145.85 on NSE. The stock of Bharat Heavy Electronics Ltd was gaining after the announcement that it will be roped in to make rolling stock for Prime Minister Narendra Modi’s dream project to put India on the fast track: the bullet train, in collaboration with Japan. Narendra Modi and the visiting Japanese Premier Shinzo Abe on Thursday laid the foundation stone for the proposed Mumbai-Ahmedabad bullet train corridor, which will cost India about Rs 1,10,000 crore, and will take about five years to complete. Narendra Modi said on Thursday that most parts of the bullet train will be made in India itself.