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Stock Market: ahead of inflation data,Sensex rises 235 points, Nifty ends above 17800

The Indian Equity market indices ended in green for the eighth session in a row ahead of the announcement of retail inflation data. At close, the Sensex was up 235.05 points or 0.39 percent at 60,392.77, and the Nifty was up 90.10 points or 0.51 percent at 17,812.40. 
According to recent reports,the Reserve Bank of India (RBI) is likely to maintain the status quo on rates in the upcoming monetary policy in June as March Consumer Price Index (CPI) inflation fell below the upper tolerance band of 6 percent.
India's headline CPI inflation fell to 5.66 percent last month from 6.44 in February.The latest CPI inflation print is the lowest in 15 months according to sources.
 Stocks and Sectors
Divis Labs, Bajaj Auto, Adani Enterprises, Dr Reddy’s Laboratories and Eicher Motors were among the biggest gainers on the Nifty, while losers were Power Grid Corp, NTPC, Nestle India, ONGC and UltraTech Cement, according to reliable sources.
Auto, pharma, and information technology indices were up 1-2 percent, while some selling was seen in the FMCG and Capital Goods names.
The BSE midcap index added 0.5 percent and smallcap index rose 0.4 percent.
On April 12,2023,Rupee gains 3 paise to close at 82.09 against US dollar.
 
(Writer is a Finance Research Analyst, based in Gandhinagar, Gujarat)
 

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