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Markets continued to trade in the reen, but gave off some gains as investors took to booking profits after a easing inflation data. The Sensex is up 82 points at 19,773. Earlier in the day, the index had touched a high of 19,832. Nifty is up 19 points at 6,000.
The financial year 2013-14 began on a positive note so far as price pressures are concerned. The wholesale price index-based inflation plunged to sub-5 level to stand at 4.89% in April against 5.96% in the previous month, official release showed today. This is the lowest level since last seen in 2009.
The broader markets gained in line with the benchmark. BSE mid-cap index is up 23 points at 6,468. Small-cap index has added 11 points at 6,125.
"We have seen a sharp fall of around 133 points in previous trading session with a significant rise in implied volatility & the PCR ratio to 1.22. The strike of 6100 & 6200 on the call side has seen around 20% additions in open interest & on the put side 5700 & 5800 put has also seen good activity. I think bias for the market remains positive to sideways unless market is holding the recent low of 5980 levels. On higher side 6050 levels can also be tested in 1 or 2 days," said Nandish Patel, Derivative Analyst, Sharekhan.
Asian shares snapped a two-day losing streak and rose on Tuesday as a suprising rise in US retail sales boosted sentiment, but the dollar took a breather after gaining broadly on growing optimism about the recovery in the world's largest economy. The markets slipped soon after with the Shanghai Composite slipping 1.3% and Nikkei and Hang Seng dropping marginally as well.
BSE oil & gas index has added 1% at 8,688. PSU, healthcare and IT indices are up 0.5-1% each as well. On the other hand, the consumer durables index has shown weakness and dipped 1% at 7,601. BSE capital goods and realty indices are trading flat at the moment.
ONGC has gained 1.8% at Rs 327. Hindalco and Bharti Airtel have added 1.5% each. Among other gainers are Gail, SBI and TCS. On the other hand, Bajaj Auto, Wipro and BHEL are down nearly 1% each.
BSE market breadth is positive. Out of 2208 stocks traded, 1077 stocks advanced while 996 stocks declined in trades.
