Sensex, Nifty recover post WPI inflation; SBI, Axis gain 2%

Written By Unknown on Selasa, 14 Oktober 2014 | 14.02

Wholesale Price Index (WPI) inflation in September eased to 2.38 percent from 3.74 percent in August led by fall in fuel, food and manufactured products prices. The WPI was expected to come in at 3.1 percent.

12:27

Moneycontrol Bureau The market recouped its morning losses after WPI inflation in September dropped to five-year low. The Sensex declined 27.63 points to 26356.44 and the Nifty fell 15.45 points to 7868.80.

Wholesale Price Index (WPI) inflation in September eased to 2.38 percent from 3.74 percent in August led by fall in fuel, food and manufactured products prices. The WPI was expected to come in at 3.1 percent.

The consumer price inflation data for the month of September, which was released yesterday, cooled off to its all-time low of 6.46 percent, the lowest since India started computing consumer price index (CPI) in January 2012, led by lower food prices and fuel costs.

Top lender State Bank of India and its rival Axis Bank gained 2 percent each. State-run power equipment maker BHEL topped the buying list, up 4 percent.

Shares of Reliance Industries, Sun Pharma, Bajaj Auto, Bharti Airtel, Cipla and Tata Power gained 1-1.9 percent. However, DLF fell 26 percent followed by Sesa Sterlite, ITC, TCS, HDFC and Tata Motors with 1-4 percent loss.

11:00

Shares of ITC, HDFC, ICICI Bank, Tata Motors, TCS, HDFC Bank, ONGC, Tata Steel and Hindalco Industries declined 1-2 percent.

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10:00

BHEL, Bajaj Auto, SBI, Bharti Airtel, Cipla, Reliance Industries, Axis Bank and IndusInd Bank gained 1-3 percent.

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09:23

DLF tanked 19 percent after market regulator SEBI barred company and its six executives from accessing capital markets for 3 years. Hero Motocorp, Cipla, ITC, Dr Reddy's Labs, BPCL and HCL Technologies were under pressure.

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