Mumbai, The benchmark index of Bombay Stock Exchange (BSE) on Friday spurted by 372.68 points to 38,090.64 as buying was witnessed across the board amid positive global cues.Strong Indian currency too boosted the equity market.
The Nifty of National Stock Exchange (NSE) too gained by 145.30 points to 11,515.20.The equity market remained in green throughout the day. The day opened on a strong note, as the Sensex rose by 222 points to 37,939.29 pts. During the day, it registered a huge gain of 408 points to 38,125.62, day high before closing at 38,090.64, up by 372.68 points from its previous close.
The Nifty recorded day high and low at 11,523.25 and 11,430.55 points respectively. The sectoral indices that gained were Materials, Health Care, Telecom, Metal, Power and Realty. In scrips, VEDL, Powergrid, Asian Paints, NTPC and Yes Bank moved up during the day.
Among secondary barometers, the BSE Mid-Cap index rose 1.62 per cent. The BSE Small-Cap index rose 1.38 pc.Both these indices outperformed the Sensex.The market breadth, indicating the overall health of the market, was strong. On BSE, 1817 shares rose and 842 shares fell. A total of 172 shares were unchanged.
Positive global cues boosted investors sentiment. The sentiment was also buoyed after data showed inflation eased in August, increasing the likelihood that the central bank will keep interest rates on hold in October.
On the data front, the annual rate of inflation, based on monthly Wholesale Price Index (WPI), stood at 4.53 pc for the month of August 2018 (over August 2017) as compared to 5.09 pc (provisional) for the previous month and 3.24 pc during the corresponding month of the previous year. The data was unveiled during trading hours on Friday.
The all-India general consumer price inflation (CPI) inflation dipped 3.69 pc in August 2018 (new base 2012=100), compared with 4.17 pc in July 2018. The corresponding inflation rate for rural area was 3.41 pc and urban area 3.99 pc in August 2018 as against 4.11 pc and 4.32 pc in July 2018. The core CPI inflation declined to 5.90 pc in August 2018 compared with 6.29 pc in July 2018.
The data was announced after market hours on Wednesday. Asia markets were trading higher. The gains, however, were tampered by enduring concerns around trade following a tweet from US President Donald Trump.
Trump said on Thursday that Washington was “under no pressure to make a deal with China, they are under pressure to make a deal with us.” He added that the US “will soon be taking in billions in tariffs & making products at home.”
