Indian Markets end near day's high - LuvKush Finserve

Markets ended near the day's high on buying interest visible in banks, realty and auto shares. The Sensex, after opening at 18,356, touched a high of 18,771. The index finally ended at 18,745 up 387 points or 2%.

Equities rose as steep drop this week in gold and oil prices will ease concerns of high current account and fiscal deficit. The Nifty rose 121 points to end at 5,689 on continued optimism after the government announced a better-than-expected WPI inflation data on Monday.

Foreign institutional investors (FIIs) sold shares worth a net Rs 418.37 crore on Monday as per provisional data from the stock exchanges. Wholesale Price Index (WPI)-based inflation hit a 40-month low of 5.96 per cent in March, compared with 6.84 per cent in February, much lower than the Reserve Bank of India (RBI)'s projection of 6.8%.

Investors are now hoping that the central bank would ease monetary policy more aggressively next month to boost growth into the Asia's third-biggest economy. The BSE bankex surged 3% to 13,589. Realty, auto and power indices were up around 2.5% each. However, on the losing side, IT index was down 0.5% at 5,986.

Source : Equity Bulls

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