Sensex trades higher as data shows inflation cools 4.75% in May 2024 from 4.83% in April 2024

Indian fairness benchmarks opened in inexperienced on Thursday after retail inflation declined in May. The authorities data confirmed India’s CPI (Consumer Price Index) easing to 4.75 per cent in May 2024, it was 4.83 per cent in April 2024.

In early commerce, Sensex and Nifty made an all-time excessive of 77,145 and 23,481 respectively. At 9:50 am, Sensex was up 173 factors or 0.23 per cent, at 76,788 and Nifty 46 factors or 0.20 per cent, at 23,370. Buying can also be seen in midcap and smallcap shares.

The Nifty midcap 100 is up 269 factors or 0.50 per cent, at 54,512 and Nifty smallcap 100 is up 27 factors or 0.20 per cent, at 17,824. India volatility index (India VIX) is down 2.22 per cent, at 14.07 factors.

Among the sectoral indices, IT, fin service, realty, serv sector, and steel are main gainers whereas FMCG, media, and power are main losers. Vaishali Parekh, Vice President-Technical Research, Prabhudas Lilladher mentioned that the Nifty has witnessed a consolidation part because the final three classes with 23,400 zone performing as a tricky barrier and would want a decisive breach above to set off additional rise in the approaching days.

“The main help zone for the index is maintained close to the 22,800 ranges whereas on the upside we will count on 23,800 ranges as the preliminary goal in the approaching classes,” he mentioned.

In Sensex pack, Wipro, Tech Mahindra, Nestle, Titan Company, Bajaj Finance, HCL Tech, Kotak Mahindra Bank, Infosys, TCS, and M&M are the highest gainers whereas Reliance, Power Grid, and HUL are the highest losers.

(With inputs from IANS)