Sensex and Nifty opened marginally higher on Thursday tracking Asian peers as most of them ticked up in the early morning session today. NSE Nifty gained 36.35 points to start at 10,229.3 whereas BSE Sensex added 61.65 points to begin at 33,114.69. Shares of Infosys and HDFC Bank were the notable contributors to the Sensex, while on the other hand, a downtick in shares of Tata Consultancy Services and HDFC capped the gains. The macroeconomic data-packed week is about to conclude with wholesale inflation figure lined up today, along with the balance of trade and forex reserves due tomorrow. After opening little higher, key equity indices Sensex and Nifty traded dull as investors were little cautious ahead of WPI figures for inflation, food, fuel, manufacturing, for the month of November are all set to be released by 12 noon today.
Shares of DR Reddy’s, M&M, Asian Paints, Infosys, ONGC, Lupin were the major gainers on Sensex today, advancing up to 1.43% while TCS, HDFC, Kotak Mahindra Bank, HUL, lost up to 1.17%. The heavyweight shares of HDFC, TCS, ICICI Bank and Kotak Mahindra Bank contributed the most to the Sensex losses, collectively washing off about 50 points out of the index while Infosys and HDFC Bank helped to trim the losses. The benchmark Sensex traded in a range of 33,003.53-33,169.74 till 9.50 am.
The Central Statistics Office (CSO) released the two key macroeconomic data — Consumer Price Index (CPI) for November and Index of Industrial Production (IIP) for October — yesterday evening.The Retail Inflation for November has surged to a 15-month high at 4.88%, breaching the 4% target set by the Reserve Bank of India, from 3.58% in the previous month, government data showed on Tuesday. Meanwhile, the Industrial production growth slowed to 2.2% in October as compared to 4.2% a year ago.
The S&P 500 ended slightly lower on Wednesday pressured by the financial sector after the Federal Reserve announced a widely expected interest rate hike but kept its rate outlook for coming years even as it projected faster US economic growth, Reuters said in a report. The Dow Jones Industrial Average rose 80.63 points, or 0.33 percent, to end at 24,585.43, the S&P 500 lost 1.26 points, or 0.05 percent, to 2,662.85 and the Nasdaq Composite added 13.48 points, or 0.2 percent, to 6,875.80. “As expected, Federal Reserve policymakers ended their two-day meeting Wednesday by raising the federal fund rate what banks charge each other for short-term loans by 0.25 percentage points to a still-low range of 1.25 to 1.5 percent,” Associated Press reported.