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Sensex, Nifty End Modestly Higher; Financials Underperform
(RTTNews) - Indian shares ended Wednesday's session higher, the dollar rally paused, and bond yields dropped after data showed U.S. producer prices rose by slightly less than expected in December, offering temporary relief to investors worried about inflation and interest rates.
However, the upside remained capped due to lingering concerns over slowing earnings growth, continued foreign fund outflows and uncertainty around U.S. President-elect Trump's tariff threats.
Also, investors awaited the release of a more closely watched report on U.S. consumer price inflation later in the day for greater clarity on the path of Federal Reserve rates over the coming months.
The benchmark S&P/BSE Sensex edged up by 224.45 points, or 0.29 percent, to 76,724.08 while the broader NSE Nifty index closed up 37.15 points, or 0.16 percent, at 23,213.20.
The BSE mid-cap and small-cap indexes edged up by 0.1 percent and 0.3 percent, respectively.
The market breadth was positive, with 2,142 stocks rising while 1,807 shares declined, and 115 shares ended unchanged.
Maruti Suzuki India, Kotak Mahindra Bank, Power Grid Corp, Trent and NTPC surged 2-4 percent in the Nifty pack, while Shriram Finance, Bajaj Finance, Bajaj FinServ, Axis Bank and Mahindra & Mahindra fell 2-3 percent.
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