Markets recover early loss; Sensex closes 100 points above

Image for representation

Image for representation

According to official data released on Monday, India's WPI inflation softened to 2.47 per cent in March from a rise of 2.48 per cent reported for February and an acceleration of 5.11 per cent in the corresponding month of past year.

Wholesale inflation was 2.48 per cent in February and 5.11 per cent in March a year ago.

The BSE benchmark Sensex fell almost 300 points to crack below the 34,000-mark on Monday amid weak Asian cues after a US-led strike on Syrian targets fuelled fresh geopolitical concerns. However, towards the middle of the session, revival of buying, spread over a broad front, helped wiping out initial losses and touched the day's high of 34,341.46 before settling higher by 112.78 points, or 0.33 per cent, at 34,305.43.

The 30-share index fell by 293.31 points, or 0.85 per cent, to 33,899.34 in opening trade.

Rising for the 8th straight session the Sensex zoomed over 100 points at while the Nifty reclaimed 10,500 level on Monday as the wholesale price-indexed (WPI) inflation softened in March.

Major losers were Tata Motors DVR, Tata Motors, Infosys, Axis Bank, Tata Steel, ONGC and SBI.

The broader NSE Nifty too, gained nearly half a per cent to close at 10,528.35.

Among Nifty50 stocks, Cipla was the top gainer, up 5.30 per cent followed by Grasim, UPL, Hero MotoCorp and Indiabulls Housing Finance, which rise between 2-2.70 per cent.

Out of 2,048 stocks traded on the NSE, 639 advanced, 1,037 declined and 372 remained unchanged today.

The rupee fell 20 paise to 65.40 against the USA dollar in early trade on global trade war concerns, dip in India's exports in March and a sharp drop in domestic equities.

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