World Media

Sensex ends higher for 8th day, Nifty settles above 10500

Sensex ends higher for 8th day, Nifty settles above 10500

Meanwhile, India's wholesale inflation eased to an eight-month low of 2.47 percent in March on cheaper food articles, the commerce ministry report showed, helping investors shrug off Infosys's lackluster quarterly results and data showing widening trade deficit in March.

Wholesale inflation was 2.48 per cent in February and 5.11 per cent in March previous year.

The benchmark BSE Sensex fell almost 300 points as it went below 34000-mark in early trade amid weak Asian Cues after a US-led strike on Syrian targets fuelled fresh geopolitical concerns.

The broader NSE Nifty too struggled before ending well above the 10,500-mark.

The 30-share index was trading lower by 77.41 points, or 0.23 per cent, at 34,115.24 at 1200 hrs, led by selling on IT, energy, consumer durables, telecom, auto, banking, oil & gas counters.

Caterpillar (CAT) Given Hold Rating at Cleveland Research
Evercore ISI upgraded shares of Caterpillar from a hold rating to a buy rating in a research note on Thursday, February 16th. It improved, as 55 investors sold CAT shares while 401 reduced holdings. 352 rose stakes while 162 funds amassed stakes.

At 10am, Sensex was down 0.12% at 34,151.86 points, while the Nifty 50 edged down 0.14% to 10,466 points.

The BSE market breadth was, however, bearish with 1,430 declines and 1,232 advances. While the Sensex recovered about 406 points from its intra day lows and closed 112 points or 0.33% higher at 34,305 level, the Nifty rose 0.46% higher at 10,528 level.

Tata Motors (-4.6%), Infosys (-3.6%), Axis Bank (-1.5%), HPCL (-1.3%) and Titan (-1.2%) were the top losers on the NSE.

Among Nifty50 stocks, Cipla was the top gainer, up 5.30 per cent followed by Grasim, UPL, Hero MotoCorp and Indiabulls Housing Finance, which rise between 2-2.70 per cent.

The rupee fell 20 paise against the USA dollar in early trade on global trade war concerns, dip in March exports and a sharp drop in domestic equities.


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