Indian benchmarks ended higher on Friday for seventh straight session on better-than-expected macro data and optimism ahead of the earnings season. Sentiment remained upbeat after retail inflation eased to a five-month low in March, but remained above the central bank’s medium-term target, supporting views that monetary policy is likely to remain unchanged at the next review in early June. The index of industrial production (IIP) grew by a healthy 7.1 per cent in February, driven largely by the robust performance of the manufacturing sector coupled with higher offtake of capital goods and consumer durables, while the key retail inflation slipped to a five-month low of 4.28 per cent in March, official data showed yesterday.
Investors now await January-March corporate results for future direction. IT Major Infosys will kick-start the March-quarter results season later in the day
The 30-share benchmark index closed trading at 34192.65 up by 91.52 points or by 0.27 per cent, while the NSE Nifty was at 10480.6 up by 21.95 points or by 0.21 per cent.
During the day’s trade, Sensex touched intraday high of 34313.14 and intraday low of 34103.53 The NSE Nifty touched intraday high of 10519.9 and intraday low of 10451.45.
The top gainers of the BSE Sensex pack were Adani Ports & Special Economic Zone Ltd. (Rs. 381.95,+2.66%), Wipro Ltd. (Rs. 293.35,+2.28%), Kotak Mahindra Bank Ltd. (Rs. 1150.50,+1.69%), Coal India Ltd. (Rs. 285.35,+1.57%), Dr. Reddy's Laboratories Ltd. (Rs. 2087.00,+1.37%), among others.
The top losers of the BSE Sensex pack were State Bank of India (Rs. 251.20,-1.22%), Axis Bank Ltd. (Rs. 541.90,-1.17%), YES Bank Ltd. (Rs. 309.40,-0.66%), Maruti Suzuki India Ltd. (Rs. 9138.45,-0.65%), Bharti Airtel Ltd. (Rs. 377.80,-0.61%), among others.
Among the sectors, Metal index was at 14095.94 up by 139.57 points or by 1%. Steel Authority of India (SAIL) Ltd. (Rs. 76.60,+3.58%), Jindal Steel & Power Ltd. (Rs. 250.80,+2.91%), NMDC Ltd. (Rs. 123.80,+2.23%), Hindalco Industries Ltd. (Rs. 237.70,+2.17%), Coal India Ltd. (Rs. 285.35,+1.57%),.
On the flip side, CGS index was at 19134.67 down by -64.02 points or by -0.33%. Bharat Electronics Ltd. (Rs. 142.50,-3.16%), Siemens Ltd. (Rs. 1077.95,-2.10%), Bharat Heavy Electricals Ltd. (Rs. 88.15,-1.07%), Suzlon Energy Ltd. (Rs. 11.86,-1.00%), Mahindra CIE Automotive Ltd. (Rs. 213.20,-0.93%),.
The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 3013, shares advanced were 1380 while 1487 shares declined and 146 were unchanged.