Fall in Inflation below 6% gives boost to Indian Equities - Microsec

Indian equities bounced back on Monday after inflation fell unexpectedly below 6% for the first time in 40 months. Oil & gas, FMCG and PSU stocks led the rally.

Nifty closed at 5568.40 up by 39.85points or 0.72% over the previous day closing of 5528.55 after witnessing a low of 5592.85 and a high of 5508.50. Sensex closed at 18357.80 up by 115.24points or 0.63% over the previous day closing of 18242.56.It touched an intraday low of 18144.22 and high of 18424.40.

The markets' breadth was positive. Out of 2431 stocks traded 1226 stocks advanced, 1042 stocks declined and 123 stocks remained unchanged. In Sensex, Out of 30 stocks 15 stocks advanced and 15 stocks declined.

Among the sectors, BSE Oil & Gas ,BSE FMCG and BSE PSU were the main gainers of the day, which increased by 2.37%, 1.45% and 1.38% respectively. In BSE Oil & Gas sector, BPCL, HPCL and IOC increased by 5.44%,4.91% and 3.75% respectively. In BSE FMCG sector United Spirits, United Brew, and ITC, advanced by 4.27%,2.76% and 2.34% respectively. In BSE PSU sector Canara Bank, Bank of India and BoB increased by 5.51%, 3.74% and 3.33% respectively.

Source : Equity Bulls

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