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Sensex rebounds after 9-day fall
Economy

Sensex rebounds after 9-day fall

Agency News

Mumbai, May 14 : Breaking the losing spree of past nine sessions, the BSE Sensex bounced back on Tuesday by 227.71 points to end positive at 37,318.53 on the strength of gains in Bharti Airtel,VEDL, IndusInd Bank and SBI stocks as well as cooling off of the wholesale price index (WPI) in April.

The Nifty of National Stock Exchange (NSE) too moved up by 73.85
points to 11,222.05. The Sensex, which had slumped by 1,976.51 points in the past nine sessions, opened today up by 56 points at 37,146.58 in early trade. It then yo-yoed between the day's high of 37,572.70 and low of 36,956.10 points during the day before closing in green at 37,318.53, up by 227.71 points versus its last close.

The buying in sectoral indices like Materials, Energy, Health Care,Telecom, Bankex and Power pushed the market up, along with scrips of Sun Pharma, Bharti Airtel, VEDL and SBI. However, the sell-off in TCS, HCL Technologies, Bajaj Finance capped the market's further gains, brokers informed.

The broader markets ended firm today, as the BSE Mid-Cap index and Small-Cap rose by 0.62 per cent and 0.30 pc, respectively.The market breadth was almost even on BSE, as 1,228 shares advanced while 1,278 declined and 135 others were unchanged. On the economic front, the annual rate of inflation, based on monthly Wholesale Price Index (WPI), stood at 3.07 pc in April 2019 (over April 2018) as compared to 3.18 pc in the previous month and

3.62 pc during the corresponding month of the previous year, the Ministry of Commerce & Industry said in a release during trading hours today.

The all-India general consumer price index (CPI) inflation rose to 2.92 pc in April 2019, compared with 2.86 pc in March 2019. The inflation based on CPI was 4.58 pc in April 2018. The Central Statistics Office (CSO) released the data after market hours on
Monday.

Overseas, European stocks climbed on Tuesday even as the Asian markets closed negative as investors awaited a resolution to the US-China trade dispute following the recent escalation in tensions. Asian shares declined Tuesday following a sharp fall in US stocks overnight as the trade war between China and United States escalated. (UNI)