Sensex up 379 pts, Nifty closes above 17,800 on easing inflation concerns

Mumbai: Benchmark BSE Sensex rose by over 379 points while Nifty closed above the 17,800 level following gains in oil & gas, banking and auto shares on easing inflation concerns. The 30-share BSE benchmark index advanced 379.43 points or 0.64 per cent to settle at 59,842.21, logging its third straight day of gains. During the day, it jumped 460.25 points or 0.77 per cent to 59,923.03.

Extending its gaining streak to a sixth session in a row, the broader NSE Nifty climbed 127.10 points or 0.72 per cent to close at 17,825.25 as 42 of its constituents advanced.

Easing inflation concerns after the wholesale price-based inflation slowed down to a five-month low of 13.93 per cent in July and buying in index majors Reliance Industries and HDFC twins added to the momentum.

From the Sensex pack, Mahindra & Mahindra rose the most by 2.28 per cent. Maruti gained 2.19 per cent, Asian Paints by 2.09 per cent, and Hindustan Unilever by 1.9 per cent. UltraTech, HDFC and HDFC Bank, Tech Mahindra and Reliance Industries were among the lead gainers.