The Sensex rose 88.68 points or 0.33% at the day's high of 26,485.45 at onset of the day's trading session. The index dropped 71.50 points or 0.27% at the day's low of 26,325.27 in morning trade. The Nifty rose 24.35 points or 0.3% at the day's high of 8,134.95 at onset of the day's trading session. The index fell 22.55 points or 0.27% at the day's low of 8,088.05 in morning trade.
In overseas markets, most Asian stocks declined following a lower finish in US stocks as investors looked ahead to central bank meetings in the US and Japan. The US Federal Open Market Committee will begin its two-day meeting today, 14 June 2016 while the Bank of Japan will start its two-day meeting tomorrow, 15 June 2016. US stocks declined yesterday, 13 June 2016 as investors turned increasingly jittery ahead of a Federal Reserve policy meeting and a looming vote on 23 June 2016 on Britain's membership in the European Union.
Closer home, the broad market depicted strength. There were over two gainers for every loser on BSE. 1,335 shares gained and 572 shares declined. A total of 84 shares were unchanged. The BSE Mid-Cap index was currently up 0.31%. The BSE Small-Cap index was currently up 0.74%. Both these indices outperformed the Sensex.
Index heavyweight and housing finance major HDFC fell 1.09% to Rs 1,194.15. The stock hit high of Rs 1,212 and low of Rs 1,190 so far during the day.
Telecom stocks rose. Reliance Communications (up 1.04%), MTNL (up 0.24%), Idea Cellular (up 0.35%) and Tata Teleservices (Maharashtra) (up 3.01%) rose. Bharti Airtel slipped 0.29%.
Realty stocks gained on renewed buying. Unitech (up 14.86%), DLF (up 1.53%), Indiabulls Real Estate (up 0.96%), Housing Development and Infrastructure (up 1.06%), D B Realty (up 2.12%), Sobha (up 1.28%), Oberoi Realty (up 0.05%) and Parsvnath Developers (up 1.25%) rose. Godrej Properties shed 0.15%.
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On the macro front, data released by the government after market hours yesterday, 13 June 2016 showed that the all-India general consumer prices index (CPI) inflation increased to 21-months high of 5.76% in May 2016 (new base 2012=100), while recording rise for second straight month. The CPI inflation had stood at 5.47% in April 2016. The corresponding provisional inflation rate for rural area was 6.45% and urban area 4.89% in May 2016 as against 6.17% and 4.68% in April 2016. However, the core CPI inflation declined to 4.49% in May 2016 from 4.71% in April 2016.
Meanwhile, the government will today, 14 June 2016 release the inflation based on wholesale price index (WPI) for the month of May 2016. WPI inflation came in at 0.3% in April 2016. WPI turned positive following 17 consecutive months of negative growth.
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