2008-05-02

Market flares; Inflation at 42-month high

Markets continue to trade higher and show no signs of weakness. Even inflation numbers have come out higher than market expectation. Inflation for week ended April 19 is at 7.57% versus 7.33%, at a 42-month high. The BSE bank, auto, IT and power indices are witnessing buying interest and are up over 2% each.

At 12.02 hrs IST, the Sensex is up 228.20 points or 1.32% at 17515.51, and the Nifty up 52.70 points or 1.02% at 5218.60.

About 1669 shares have advanced, 1186 shares declined, and 227 shares are unchanged.

Reliance Infra, Maruti Suzuki, Jaiprakash Asso and M&M are top gainers on the bourses.

However, top losers on the bourses are Hindalco, Reliance Comm, Tata Steel and Sterlite Ind.

Source : moneycontrol.com

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