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Sensex, Nifty Gain Ahead of IIP, Inflation Data


Benchmark indices rallied in trade ahead of IIP and inflation data due later today at 5.30 pm. The Sensex ended the day with gains of 126 points, while the Nifty rallied 38 points in trade. Leading the set of gainers from the Nifty and the Sensex were banking stocks which rallied ahead of the data.


Sensex, Nifty Gain Ahead of IIP, Inflation Data
Stocks from the PSU banking space gained ground with notable winners being Syndicate Bank, Bank of Baroda, Allahabad Bank, bank of Baroda and IDBI Bank.

Among the losers in trade from the Nifty were stocks like Hindustan Unilever which jumped another four per cent in trade. Infosys continued to rally for a second day following its results and the stock ended the day up almost one per cent in trade.

Shares in NIIT rallied a huge six per cent after the company entered into a MoU with Guian New Area, China. PVR on the other hand gained ground after reports that the company was set to acquire Chennai's premier movie exhibition company SPI Cinemas.

Metal stocks had a slightly weakish session in trade with stocks like Tata Steel and Sesa Sterlite ending the day very subdued.

Heavyweight, Reliance Industries also ended the day with losses. Meanwhile, markets across Asia ended the day with gains while most of Europe was trading higher.

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