Sensex jumps over 200 points; Nifty above 8,150 mark

The domestic market recovered after hitting a five-month low on Tuesday, tracking positive global cues and lower inflation data released yesterday. The Sensex up over 300 points, while the broader Nifty50 index regained its crucial 8,200 level.

The S&P BSE Sensex is trading at 26,493 up 189 points, while NSE Nifty is trading at 8,154 up 46 points.

The BSE Mid-cap Index is trading up 1.29% at 12,123, whereas BSE Small-cap Index is trading up 0.77% at 11,994.

Asian Paints, TCS, ICICI Bank, Maruti Suzuki and ONGC are among the gainers, whereas Lupin, Sun Pharmaceuticals, Cipla and L&T are losing sheen on BSE.

Some buying activity is seen in realty, IT, auto, banking, energy and oil & gas sectors, while pharma, consumer durables, capital goods and industrial sectors are showing weakness on NSE.

The INDIA VIX is down 3.07% at 19.5250. Out of 1,879 stocks traded on the NSE, 615 declined, 1,036 advanced and 319 remained unchanged today.

A total of five stocks registered a fresh 52-week high in trade today, while 5935 stocks touched a new 52-week low on the NSE.

Asian markets traded in the green on opening bell taking cues from the US indices which hit new all time highs. The return of the risk on trade seems imminent with money now entering the developed markets with US, Germany & Japan set to outperform in the near term.With strong expectation of huge infra spend on the anvil the US indices seem set to move higher as higher bond yields coupled with $ strength indicate bullish momentum.

The Indian rupee opened higer by six paise at 67.68/$ against Tuesday close at as against the previous close of 67.74/$.

The Union cabinet on Tuesday approved a modest 6.6% hike in the minimum support price (MSP) of wheat.

On the economy front, India’s retail price inflation fell to a 14-month low of 4.2% in October from 4.39% a month ago as inflation in fruits and pulses softened, raising the chances of an interest rate cut by the central bank.

India's trade deficit widened to $10.16 billion in October from $8.34 billion in the previous month, as gold imports more than doubled to $3.5 billion from a year ago. Merchandise exports grew 9.6% year-on-year to $23.5 billion, while imports expanded 8.11% year-on-year to $33.67 billion, the data showed.