Mumbai, June 15 (IANS): Better-than-expected factory output and contained consumer and wholesale price indices buoyed sentiments and led to a barometer index of the Indian equities markets on Monday gaining more than 160 points in the late-afternoon trade session.
The 30-scrip Sensitive Index (Sensex) of the S&P Bombay Stock Exchange (BSE) gained more than 160 points or 0.60 percent during the session under review. The healthy intra-day gains came after three straight weeks of losses at the barometer index.
The wider 50-scrip Nifty of the National Stock Exchange (NSE) also made gains during the late-afternoon trade session. It was trading with gains of 47.60 points or 0.60 percent at 8,030.50 points.
The Sensex which opened at 26,498.67 points, was trading at 26,591.50 points (at 2.45 p.m.), up 166.20 points or 0.63 percent from the previous day's close at 26,425.30 points.
The Sensex touched a high of 26,728.60 points and a low of 26,307.84 points in the intra-day trade so far.
According to Angel Broking, the Indian markets opened marginally higher tracking the SGX Nifty and global cues.
"Indian markets had ended a lacklustre session (June 12) modestly higher after steep losses in the previous session," the firm said.
On Monday, the trade was impacted by the release of India's annual wholesale inflation data, which continued to be in the negative in May. However, it moved up slightly to (-)2.36 percent from (-)2.65 percent in April.
Apart from an expected rate of WPI, the better-than-expected consumer price index (CPI) and Index of Industrial Production (IIP) figures which were released after the close of equities markets on Friday had an impact on Monday's trade.
The April IIP showed a 4.1 percent growth, against a 2.1 percent rise for the previous month. The retail inflation inched-up to 5.01 percent in May from 4.8 percent in April.
The markets were also anxious about the US Fed's monetary policy meeting on June 17 which will be closely monitored for any signs of a rise in interest rates.
With higher interest rates in the US, the FPIs (Foreign Portfolio Investors) are expected to be led away from the emerging markets such as India.
During the intra-day trade on Monday, healthy buying took place in the automobile, healthcare and oil and gas stocks.
However, banking, consumer durables and metal scrip came under selling pressure.
The S&P BSE automobile index rose by 185.68 points, followed by the healthcare index which gained by 176.28 points and oil and gas index which was up by 81.14 points.
The S&P BSE banking index receded by 71.97 points, consumer durables index fell by 49.92 points and metal index was down by 34.90 points.