After slowing down on Tuesday, the Indian equity market once again accelerated higher after the Inflation declined to a five-month low of 6.16% in December, providing space to the Reserve Bank to ease interest rates and prop up growth. Inflation in November was 7.52% and in October, it was revised upward to 7.24% from 7%.
The BSE Sensex ended at its highest closing level since December 9, while, the NSE Nifty ended at 6320 re-conquering the 6300 levels and closed above it at its highest closing level since December 10.
Today’s rally was led by the interest rate sensitive stocks. The banking, realty and auto were among the top gainers. Among the other gainers were, the capital goods, power, FMCG and IT stocks. Even the mid-cap and the small-cap stocks participated in the rally.
Only the consumer durables stocks ended in the red.
Finally, BSE Sensex closed at 21,289 up 256 points, while NSE Nifty closed at 6,321 up 79 points over the previous close.
The BSE Sensex ended at its highest closing level since December 9, while, the NSE Nifty ended at 6320 re-conquering the 6300 levels and closed above it at its highest closing level since December 10.
Today’s rally was led by the interest rate sensitive stocks. The banking, realty and auto were among the top gainers. Among the other gainers were, the capital goods, power, FMCG and IT stocks. Even the mid-cap and the small-cap stocks participated in the rally.
Only the consumer durables stocks ended in the red.
Finally, BSE Sensex closed at 21,289 up 256 points, while NSE Nifty closed at 6,321 up 79 points over the previous close.
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