Easing inflation data lifts equity market; record low rupee limits gains

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Mumbai, Aug 14 (IANS) Easing wholesale inflation lifted the key Indian equity indices on Tuesday with the benchmark S&P BSE Sensex rising over 200 points.

According to market observers, healthy buying activity was witnessed in banking, auto and IT stocks.

India’s annual rate of inflation based on wholesale prices eased to 5.09 per cent in July from a rise of 5.77 per cent in June, official data showed here on Tuesday.

However, weakness in the Indian rupee limited the gains on the indices. The rupee on Tuesday touched an all-time low of 70.08 per dollar.

At 12.54 p.m. the wider Nifty 50 traded at 11,432.85 points, higher by 77.10 points or 0.68 per cent from the previous close.

The 30-scrip BSE Sensex which had opened at 37,749.59 points, traded at 37,873.28 points, higher by 228.38 points or 0.61 per cent from the previous close of 37,644.90 points.

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It has touched an intra-day high 37,911.69 points and a low of 37,689.71 points so far.

The top gainers on the Sensex were Axis Bank, Reliance Industries, Yes Bank, Sun Pharma and Hindustan Unilever, while the major losers were Adani Ports, Vedanta, NTPC, Bharti Airtel and Tata Motors (DVR).



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