Indian shares ended modestly higher on Wednesday after a volatile session. While U.S. inflation and Fed policy tightening worries weighed, encouraging WPI inflation data offered some support.
India’s wholesale price-based inflation eased marginally to 12.07 percent in June from 12.94 percent in May, official data showed. Prices of food articles and crude oil eased, helping snap the five straight months of uptick.
The benchmark 30-share BSE Sensex rose 134.32 points, or 0.25 percent, to 52,904.05, extending gains for the second straight session.
The broader NSE Nifty index ended up 41.60 points, or 0.26 percent, at 15,853.95.
IT stocks topped the gainers list, with Mindtree climbing 8 percent after reporting better-than-expected results for the first quarter.
Wipro soared 7 percent ahead of its June quarter earnings release on Thursday, while HCL Technologies, Infosys and Tech Mahindra all rose over 2 percent.
Larsen & Toubro rose a little over 2 percent on the BSE to extend gains for the third day running.
Global cues were mixed after overnight data showed U.S. consumer prices last month rose by the most in nearly 13 years.
Investors also awaited Federal Reserve Chair Jerome Powell’s testimony before Congress for any clues on the timing of potential U.S. tapering.
Sensex Ends 134 Points Higher; Nifty Tops 15,850
2021-07-14 10:57:30
