The BSE Sensex today advanced by 55
points as gains in pharma, banking and IT stocks helped the
barometer extend its winning streak for a sixth session even
as investors turned cautious due to a spike in inflation and
losses in global markets after weak Chinese economic data.
The 30-share barometer closed at 32,241.93, showing net
gains of 55.52 points or 0.17 per cent -- a closing level not
seen since August 7 when it ended at 32,273.67.
It moved erratically between 32,328.61 and 32,186.84 in
The broader Nifty closed higher by 7.30 points or 0.07
per cent at 10,086.60 in a volatile trade. It shuttled between
10,126.50 and 10,070.35 during the day.
Persistent buying by domestic institutional investors and
retail investors kept the momentum for indices, brokers said.
Investors turned cautious after wholesale inflation rose
to a four-month high of 3.24 per cent in August as prices of
food articles, led by onions and vegetables soared, dashing
hopes of rate cut by the RBI.
The Sensex had gained 524.44 points in the previous five
days on firm global cues on receding concerns about North
Korea and sustained buying by domestic investors.
Among pharma stocks, Sun Pharma, Cipla and Lupin rose up
to 4.24 per cent. Axis Bank and ICICI Bank rose up to 4 per
cent helping the Sensex to settle at over one month high
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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