Thursday 21 May 2015

Sensex starts with small gains, inflows continue to pour in

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Mumbai: The Sensex struck a positive note on Wednesday in the beginning on continued foreign inflows ahead of the expected hike in US interest rates.

However, caution prevailed after retail inflation rose to 4-month high of 3.65 percent in February and that of wholesale prices shot up to a 39-month high of 6.55 percent.

The Sensex had soared 540.69 points in the previous three sessions following the BJP's landslide win in UP and Uttarakhand.

Nifty hits record after BJP's huge win, Sensex at 2-year peak MUST READ

Nifty hits record after BJP's huge win, Sensex at 2-year peak

The 30-share index was trading higher by 26.22 points, or 0.08 percent, at 29,468.85. A number of sectoral indices, led by consumer durables, healthcare, oil and gas, FMCG and infrastructure, were in the positive space.

The NSE index Nifty edged up by 3.40 points, or 0.03 percent, to 9,090.40. It had touched a life high of 9,087 yesterday.

The increased buying momentum borne out by the fact that foreign funds purchased shares heavily lifted mood.

Among other Asian markets, Shanghai Composite rose 0.10 percent while Hong Kong's Hang Seng was down 0.18 percent in early trade today. Japan's Nikkei shed 0.29 percent.

The US Dow Jones Industrial Average also ended 0.21 percent down yesterday.