Mumbai May 15 (IANS) Positive domestic macro-economic data and a strong rupee cheered the Indian equity markets on Monday.
Investors sentiments were buoyed by official data released after market hours on Friday -- Wholesale Price Index (WPI) and Consumer Price Index (CPI) -- which showed that inflation eased in April. The data on annual rate of inflation was calculated on a revised base year of 2011-12.
However India s factory output growth slowed to 2.7 per cent in March on the back of poor manufacturing performance in the new Index of Industrial Production (IIP) with revised base year of 2011-12.
The key indices traded with gains of close to half a per cent each during the mid-afternoon trade session as healthy buying was witnessed in banking metal and healthcare stocks.
Around 12.30 p.m. the wider 51-scrip Nifty of the National Stock Exchange (NSE) rose by 41.65 points or 0.44 per cent to trade at 9 442.55 points.
The barometer 30-scrip Sensitive Index (Sensex) of the BSE which opened at 30 287.37 points traded at 30 323.15 points -- up 135 points or 0.45 per cent from its previous close at 30 188.15 points.
The Sensex has so far touched a high of 30 357.96 points and a low of 30 273.62 points during the intra-day trade.
The BSE market breadth was bullish with 1 471 advances and 1 097 declines.
Equity benchmark indices started off the first day of the week on a firm note tracking positive macro-economic data. Appreciation of the rupee against the US dollar also supported the firm opening of the equity markets Dhruv Desai Director and Chief Operating Officer of Tradebulls told IANS.
Most banking stocks traded with firm sentiments lead by Kotak Bank. Auto power oil-gas and cement sector stocks complemented the firmness of the markets.
On Friday profit booking and global cues pulled the benchmark indices lower.
The NSE Nifty fell by 21.50 points or 0.23 per cent to close at 9 400.90 points and the BSE Sensex closed at 30 188.15 points -- down 62.83 points or 0.21 per cent.
--IANS
ppg/vt
Positive macro-data, rupee cheer Indian equities (Lead)
