Indian benchmark indices, Sensex and Nifty, closed higher on Wednesday, led by gains in healthcare, metal, and auto stocks. Market sentiment received a boost from easing inflation data, which fell to its lowest level in several years.
India’s retail inflation, measured by the Consumer Price Index (CPI), dropped to 1.55% in July from 2.1% in June, marking the ninth straight month of decline. According to data from the Ministry of Statistics and Programme Implementation (MoSPI), this is the lowest CPI reading since June 2017.
The 30-share benchmark index ended at 80539.91 up by 304.32 points or by 0.38 % and then NSE Nifty was at 24619.35 up by 131.95 points or by 0.54 %.
Sensex touched intraday high of 80683.74 and intraday low of 80319 The NSE Nifty touched intraday high of 24664.55 and intraday low of 24535.25
The top gainers of the BSE Sensex pack were Eternal Ltd. (Rs. 312.30,+2.08%), Kotak Mahindra Bank Ltd. (Rs. 1989.55,+1.56%), Tata Motors Ltd. (Rs. 663.60,+1.48%), Mahindra & Mahindra Ltd. (Rs. 3282.65,+1.42%), Power Grid Corporation of India Ltd. (Rs. 288.45,+1.33%), among others.
The top losers of the BSE Sensex pack were IndusInd Bank Ltd. (Rs. 773.50,-1.16%), Adani Ports & Special Economic Zone Ltd. (Rs. 1319.75,-0.78%), ITC Ltd. (Rs. 414.00,-0.58%), UltraTech Cement Ltd. (Rs. 12396.65,-0.46%), Titan Company Ltd. (Rs. 3474.00,-0.34%), among others.
HCS index was at 44597.5 up by 772.62 points or by 1.76%. Windlas Biotech Ltd. (Rs. 1056.80,+10.50%), Vimta Labs Ltd. (Rs. 659.40,+8.24%), Apollo Hospitals Enterprise Ltd. (Rs. 7808.45,+7.90%), GlaxoSmithKline Pharmaceuticals Ltd. (Rs. 2767.00,+6.87%), Strides Pharma Science Ltd. (Rs. 866.25,+6.16%),.
Oil&Gas index was at 26334.51 down by -7.93 points or by -0.03%. Oil India Ltd. (Rs. 407.00,-4.25%), Petronet LNG Ltd. (Rs. 274.85,-1.70%), GAIL (India) Ltd. (Rs. 173.35,-0.57%), Bharat Petroleum Corporation Ltd. (Rs. 322.80,-0.25%), Indian Oil Corporation Ltd. (Rs. 142.50,-0.18%),.
The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 4414 , shares advanced were 2327 while 1917 shares declined and 170 were unchanged.