The markets have turned volatile after the inflation data was announced. The Sensex after a minor blip, recovered smartly and tired to re-test the day's high. However, the markets have slipped back once again.
The Sensex is now up 10 points at 18,275. The NSE Nifty stands at 5,489, up six points. The broader markets on the other hand continue to trade strong with the smallcap and the mdcap indices up 0.3% each as compared to the Sensex up 0.1%
Among the sectoral indices, Capital Goods and Health Care continue to lead the gains up 0.7% each followed by Power, FMCG and PSU. On the other hand, Consumer Durables continue to languish in the red down 0.8%. Rate sensitives Metal and Auto indices too are trading in the negative losing 0.1% each.
Meanwhile, WPI-based inflation for May rose to 9.06% from 8.66% in the previous month.
Energy majors, led by Reliance, continue to weigh on the markets. The BSE Oil & Gas index has declined 0.7% at 9,316. Reliance alone accounts for a loss of 25 points on the Sensex. The stock has declined 1.2% at Rs 916.
HDFC too continues to trade in the negative territory, down almost 2% at Rs 645 post the block deal early morning.
Among the major losers on the Sensex stocks are Tata Motors and Hindalco down 2% each followed by index heavyweigh RIL, Cipla, Tata Steel and Maruti Suzuki losing between 0.5-1%.
Reliance Infrastructure and Tata Power up 2% each followed by Bajaj Auto, Mahindra & Mahindra, L&T, ITC and ICICI Bank gaining 1% each are the top gainers among the Sensex stocks.
The market breadth continues to remain positive. 1493 stocks have advanced while 1145 declined as comapred to a total of 2771 stocks traded on the BSE.