Markets maintain momentum to settle higher for 2nd day in row on positive inflation numbers

Mumbai: Benchmark indices Sensex and Nifty ended with gains on Wednesday, extending their previous day rally amid lower level of inflation on domestic front and better-than-expected inflation readings from the US.

The 30-share BSE Sensex climbed 144.61 points or 0.23 per cent to settle at 62,677.91. During the day, it jumped 301.81 points or 0.48 per cent to 62,835.11. The broader NSE Nifty advanced 52.30 points or 0.28 per cent to end at 18,660.30.

From the Sensex pack, Tech Mahindra, Tata Steel, NTPC, IndusInd Bank, State Bank of India, Power Grid, HCL Technologies, Tata Consultancy Services and Larsen & Toubro were the major winners.

Nestle, Bharti Airtel, ICICI Bank, Asian Paints, Hindustan Unilever and UltraTech Cement were among the laggards.

In the broader market, the BSE smallcap gauge climbed 0.68 per cent and midcap index advanced 0.59 per cent.

Among sectors, metal jumped 1.55 per cent, realty (1.44 per cent), IT (0.89 per cent), industrials (0.81 per cent), commodities (0.80 per cent) and consumer discretionary (0.55 per cent). FMCG was the only laggard.

India's wholesale price-based inflation fell to a 21-month low of 5.85 per cent in November as prices of food, fuel and manufactured items softened, according to the official data released on Wednesday.

International oil benchmark Brent crude dipped 0.06 per cent to $80.63 per barrel.

The rupee gained 11 paise to settle at 82.49 against the US dollar on Wednesday as a positive trend in domestic equities and easing inflationary pressures strengthened investor sentiment.