Markets trade flat post CPI, IIP data

Aug 13 2014, 11:46 IST
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The BSE benchmark, the Sensex was trading 83.55 points or 0.32% higher at 25,964.32 points. The BSE benchmark, the Sensex was trading 83.55 points or 0.32% higher at 25,964.32 points.
SummaryThe BSE benchmark, the Sensex was trading 83.55 points or 0.32% higher at 25,964.32 points.

Benchmark indices were trading flat on Wednesday on the back of disappointing inflation and industrial output data.

The BSE benchmark, the Sensex was trading 83.55 points or 0.32% higher at 25,964.32 points, while the NSE's Nifty was trading 25.55 points or 0.33% higher at 7,752.60 points at 10.30 am IST. On Tuesday, data from Ministry of Statistics showed that the retail inflation in July grew at 7.96% against 7.46% in previous month. Meanwhile, the Index of Industrial Production (IIP) for June grew at 3.4% against 5% in May.

Experts say markets continue to consolidate in a broad range. "The Nifty continues to consolidate within a range of 7500 – 7800 with positive bias Resistance is at 7800. Support is at 7600 and below that 7500," Standard Chartered Securities said in a note.

Among sectoral indices, the BSE FMCG (1.41%), BSE Healthcare (1.17%) and BSE IT (1.15%) were among the major gainers. Among individual stocks, HUL (2.14%), ITC (1.66%) and Sun Pharma (1.54%) were the major gainers.

Asian markets were showing a mixed trend. The Nikkei (0.19%), Kospi (0.64%), Taiwan Taiex (0.6%) and Jakarta Composite (0.1%) were trading in the green. Meanwhile, Shanghai Composite (-0.65%), Hang Seng (-0.23%) and Straits Times (-0.26%) were trading in the red.

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