Indian Markets end near day's high on Monday - LuvKush Finserve

Markets ended near the day's high as buying interest emerged in Oil & gas and banking shares following positive WPI inflation numbers. The BSE Sensex, after touching a low of 18,144 managed to recover to a high of 18,424. The index finally ended at 18,358 - up 115 points. The Nifty ended at 5,568 up 40 points.

After the moderate rise in February, the Wholesale price index (WPI) inflation fell to 5.96% in March 2013. This is the lowest recorded figure in 40 months. Bank stocks edged higher on hopes of interest rate cut from the Reserve Bank of India after latest data released by the government.

Bankex was up 1% at 13,201. BSE oil & gas index surged 2.3% at 8,561. Europe's second biggest oil firm BP Plc head Bob Dudley and his partner Reliance Industries Chairman Mukesh Ambani sought clarity on pricing of natural gas as they felt an interim arrangement being considered by the government was inadequate.

BSE PSU index gained 1.4% at 6,545 following news that Public Sector Units (PSUs) in the Indian economy accounted for $383 billion turnover in FY12 with a revenue growth of 11% since 2009. Meanwhile, BSE IT index was down marginally at 6,016. Consumer durables, auto and metal indices remained in red - down 1-2% each.

Source : Equity Bulls

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