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Sensex, Nifty End Choppy Session Modestly Higher
(RTTNews) - Indian shares ended modestly higher on Wednesday as signs of easing retail inflation sparked hopes for more rate cuts from the Reserve Bank of India in coming months.
Official data showed India's consumer price inflation eased further in April to the lowest level in nearly six years amid a slower rise in food prices. Consumer price inflation eased more-than-expected to 3.16 percent in April from 3.34 percent in February.
Softer-than-expected consumer inflation data from the U.S. also underpinned sentiment but trading was somewhat volatile due to mixed cues from global markets.
The benchmark S&P BSE Sensex fluctuated before ending up 182.34 points, or 0.22 percent, at 81,330.56.
The broader NSE Nifty index closed at 24,666.90, up 88.55 points, or 0.36 percent, from its previous close.
The BSE mid-cap and small-cap indexes posted strong gains, rising 1.2 percent and 1.6 percent, respectively.
The market breadth was strong on the BSE, with 2,857 shares rising while 1,130 shares declined and 138 shares closed unchanged.
Maruti Suzuki India, Eternal, Tech Mahindra and Tata Steel rallied 2-4 percent while Tata Motors, Kotak Mahindra Bank and Asian Paints all ended down over 1 percent.
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