Free Press Journal

Sensex trades high, takes retail inflation in stride


BSE Sensex

Mumbai: The Sensex tested the 33,000 level in opening trade today after some value-buying in select stocks despite retail inflation rising to 7-month high in October. The rupee’s modest recovery against the dollar and a mixed global trend were the other deciders. Retail or CPI inflation rose to 7-month high of 3.58 percent in October, driven up by costlier food items, particularly vegetables.

The rupee was trading higher by 13 paise to 65.29 against the American currency at the forex market today. The 30-share barometer bounced by 81.98 points, or 0.25per cent, to 33,115.54. Auto, power, consumer durables, FMCG, and realty jumped by up to 0.52 percent. The gauge had lost 281 points in the previous session. The NSE index Nifty too was trading higher by 21.70points, or 0.21 percent, at 10,246.65.

The big gainers included NTPC, Reliance Industries, M&M, Kotak Bank, Maruti Suzuki and Lupin, adding up to 1.61 percent. Japan’s Nikkei rose 0.27 percent and Hong Kong’s HangSeng 0.19 percent in early trade. China’s Shanghai Composite, however, shed 0.38 percent. The US Dow Jones Industrial Average had closed 0.07 percent higher yesterday.