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Markets jump with joy after Inflation numbers come positive

August 29th, 2008

Friday, August 29, 2008 10:37:19 AM IST

The Indian Stock markets reacted positive on the Indian Inflation numbers that turned to be positive this time. The Nifty is at 4308 up 2.25% while BSE Sensex is up 332 points and is trading at 14380. Banking stocks are trading positive.

India’s Inflation numbers came after the closing bell of the Indian stock markets yesterday evening. The Inflation is at 12.40 dipping marginally by 0.23%. Of the 98 primary articles, prices of 21 articles declined and those of 48 articles remain the same. The Finance Ministry commented that these are the early signs of the reforms they have taken.

The CNX IT is up 1.72%. Bank Nifty is up 4.67%. CNX 100 is up 2.30% while CNX 500 is up 2.24%

The BSE Midcap index is up 1.73% while BSE Smallcap index is up 2.32%. All BSE sectoral indices are in the green with Bankex up 4.64% and Realty 3.15% leading the board. Capital Goods, Metal and PSU are up over 2%.

Nifty gainers of the day include ICICI Bank up 5.48%, HDFC Bank, Reliance Infra, PNB (all up over 4%), SBI, Tata Motors, BPCL, HDFC, Suzlon, DLF (all up over 3%)

Nifty losers list include Ranbaxy and Cairn both of which are marginally in the red.

1 U.S. dollar = 43.7005 Indian Rupees
1 U.S. dollar = 109.4211 Japanese Yens
1 U.S. dollar = 0.6806 Euros
1 Ounce Gold = $835.40
1 Barrel Crude Oil = $116.92

Entry Filed under: Equity Markets