India News | Sensex, Nifty Swing Between High, Lows in Volatile Trade Ahead of US Inflation Data
Get latest articles and stories on India at LatestLY. Equity benchmark Sensex and Nifty edged up in volatile trade on Wednesday amid mixed global trends ahead of the US inflation data.
Mumbai, Dec 11 (PTI) Equity benchmark Sensex and Nifty edged up in volatile trade on Wednesday amid mixed global trends ahead of the US inflation data.
Market analysts said investors will monitor the November US CPI, the final inflation reading for further cues before the Federal Reserve's year-end policy meeting.
The 30-share BSE Sensex rose 55.04 points or 0.04 per cent to 81,565.09 in the morning trade.
Similarly, the broader NSE Nifty went up 30.40 points or 0.12 per cent to 24,640.45.
From the 30-share pack, UltraTech Cement, Nestle India, Mahindra & Mahindra, Sun Pharmaceutical, Asian Paints, Maruti, Infosys and Tata Motors were among the gainers.
HCL Technologies, ICICI Bank, Tech Mahindra, Bajaj Finance, Bajaj Finserv, Tata Consultancy Services, Titan and HDFC Bank were the laggards.
In Asian markets, Seoul, Hong Kong and Shanghai were trading in the green territory, while Tokyo quoted in the red.
"Asia-Pacific markets were mixed Wednesday, after major Wall Street benchmarks declined ahead of key inflation data that could influence the Federal Reserve's interest rate decision," said Deepak Jasani, Head of Retail Research at HDFC Securities.
US markets closed lower in overnight deals on Tuesday.
Global oil benchmark Brent crude rose 0.54 per cent to USD 72.58 a barrel.
"Nifty is in a consolidation range and is likely to remain in this consolidation phase with a mild upward bias in the near-term. The biggest positive for the market is the return of the FIIs and the consequent strength in the large caps, particularly in banking and IT," said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
Vijayakumar further noted that FIIs turning buyers have enthused the retail investors who have been on the defensive after the near 10% correction from the September peak.
Foreign Institutional Investors (FIIs) bought equities worth Rs 1,285.96 crore on Tuesday, according to exchange data.
On Tuesday, the 30-share BSE Sensex edged up 1.59 points to close at 81,510.05. Falling for the third day, the NSE Nifty dropped by 8.95 points to settle at 24,610.05.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)