Nifty hovers around 7100; April WPI eases to 5.2%

Equity benchmarks slipped marginally with the Nifty falling below 7100 level ahead of Lok Sabha Election outcome on Friday.

12:27

Moneycontrol Bureau Equity benchmarks slipped marginally amid choppy trade. The Sensex declined 56.47 points to 23758.65 and the Nifty fell 19.30 points to 7089.45. Declining shares outnumbered advancing ones by a ratio of 1545 to 945 on the BSE.

April WPI inflation eased to 5.2 percent from 5.7 percent in March led by decline in food, fuel and manufactured products inflation.

India's largest private sector lender ICICI Bank lost more than 1.5 percent followed by L&T, HDFC, TCS, Wipro, Bajaj Auto, Bharti Airtel and Dr Reddy's Labs with over a percent. Index heavyweight Reliance Industries slipped 0.3 percent.

However, NTPC gained 4 percent after MSCI increased its weightage to 1.32 percent from 0.84 percent in MSCI India Index. The company will declare its fourth quarter earnings today.

Tata Steel gained more than 3 percent after higher sales backed by strong performance in Europe and India, drove its net profit to Rs 1,036 crore in Q4FY14 against a loss of Rs 6,529 crore in the same quarter a year ago after impairment charges.

Shares of Sun Pharma, Axis Bank, HUL, M&M, Tata Power and GAIL gained 1-2 percent.

11:00

Rupee is higher on positive domestic market sentiment amid expectations of an NDA majority at the centre. Hope of bunched up dollar inflows following yesterday's holiday is also supporting.

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10:00

Equity benchmarks continued to consolidate for the second consecutive session after hitting record highs in previous session.

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09:15

The Indian rupee advanced in the early trade on Thursday. It has opened with a gain of 18 paise at 59.48 per dollar as against previous day's closing value of 59.66 a dollar.

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