Markets close higher on lower inflation data

Updated: Monday, April 15, 2013, 15:34 [IST]

Markets closed the day higher as inflation data surprised on the lower side, which pushed banking and rate sensitives higher on hopes that the RBI would cut interest rates when it meets in early May.

The Sensex ended the day higher by 92 points (provisional), while the Nifty closed the day higher by 39 points. Among the top Sensex gainers were the stocks from the oil and gas space led by Oil and Natural Gas Corporation, which jumped following reports of new discoveries.

BPCL jumped 5 per cent on lower crude prices, while other stocks from the Nifty that rose were Jaiprakash Associates, Ultratech Cement and Reliance Infra. Stocks from the banking space were the best performing stocks today with Bank of Baroda, Axis Bank and State Bank of India leading gainers from the space.

Infosys Technologies, which was down more then 3 per cent in early trade, regained ground and closed the day in the green.

The Mid Cap indices also ended the day in the green with notable gainers being Delta Corp, Network 18, TV 18 Broadcast, Anant Raj, Spice Jet, Jet Airways and Parsvnath.

Realty stocks also had a good day in trade with Indiabulls, Sobha Real estate, Oberoi Realty jumping in trade.

Larsen and Toubro climbed after the company got approval from CCI to acquire L&T Komatsu.

Meanwhile, markets in Asia ended the day in the red, while European markets were trading with losses. Asia slipped on weak GDP numbers reported by China.

GoodReturns.in