Indian Markets end 1% higher - LuvKush Finserve

Markets snapped three day losing streak to end 1% higher on Thursday after bank shares rebounded from their day's low. The Sensex ended at 19,570 up 208 points or 1.07% and the Nifty ended at 5,909 up by 58 points or 0.99%.

The whole sale price index inflation stood at 6.84% in February 2013, as against 7.56% in the corresponding period in the previous year. Inflation was declining for four months in a row till January. In January 2013, WPI inflation was at 6.62%.

On the sectoral front, BSE Realty index and BSE Bankex indices surged by over 2% followed by counters like Capital Goods, PSU, Metal, Power, IT, FMCG and Oil & Gas, all gaining by 1% each. However, BSE Consumer Durable index declined by almost 2%.

Shares of rate sensitive sectors mainly banking and realty moved higher on hopes that the Reserve Bank of India (RBI) may ease rates in its policy meet next week. State Bank of India, ICICI Bank, HDFC Bank, Dena Bank, Canara Bank and Oriental Bank of Commerce from banking space and Unitech and Indiabulls Real Estate from realty ended higher by more than 3% each on BSE.

Source : Equity Bulls

Keywords