Sharp slowdown in the headline
inflation raised hopes of interest rate cut. Sensex soars 400 points, biggest
intraday gain since September 2012. Nifty traded at above its 200 DMA. Sensex
traded 395 points higher at 18753 while Nifty ended at 5688 jumped 120 points.
Sharp decline in gold and crude
oil prices rallies the momentum. Gold and oil have large proportion of India’s
import bill; falling down of prices of both helps in lowering the current
account deficit.
Among the sectoral indices CNX
Finance moves 3.15% higher; Bank Nifty traded 3% higher and CNX Infra was up by
2.68%. CNX Media was trading down by -0.78%.
Market breadth was positive on
the NSE with 812 gainers against 474 losers.
Out of 50 stock of Nifty 46
stocks advanced while 4 were in Red zone.
Top Nifty gainers: IDFC (5.39%), Axis Bank (4.87%), IndusInd Bank
(4.40), Maruti (4.36%) and M&M (3.94%) were among the biggest gainers.
Top Nifty losers: Infosys (-1.97%), HCL (-0.33%), Cairn (-0.33%),
Lupin (-0.02%) were among the top losers.
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