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Sensex, Nifty End Choppy Session Marginally Higher
(RTTNews) - Indian shares ended a choppy session slightly higher on Thursday after government data showed India's wholesale prices declined for the fifth successive month in August, though at a slower-than-expected pace.
The wholesale price index dropped 0.52 percent year-over-year in August, following a 1.36 percent decrease in July. Economists had expected a 0.6 percent fall.
Benchmark indexes Sensex and Nifty hit record highs earlier in the session before giving up most gains to end the session on a flat note, tracking mixed global cues and amid concerns about rising crude oil prices in international markets.
The BSE Sensex settled 52.01 points, or 0.08 percent, at 67,519 while the broader NSE Nifty index edged up 33.10 points, or 0.16 percent, to 20,103.10.
Divis Laboratories, ONGC, Mahindra & Mahindra, Hindalco and UPL jumped 2-4 percent while Britannia Industries, Coal India, HDFC Life and Asian Paints all ended down around 1 percent.
The rupee traded higher in the afternoon after U.S. consumer inflation data came in hotter than expected, keeping bets of more Fed rate hike alive.
Traders looked ahead to the ECB rate decision along with a slew of U.S. economic data, including reports on weekly jobless claims, retail sales and producer price inflation later in the day for further clarity on the global growth and rate outlook.
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