Financials News

Sensex starts with small gains, inflows continue to pour in

Sensex starts with small gains, inflows continue to pour in

Mumbai: The Sensex struck a positive note today in the beginning on continued foreign inflows ahead of the expected hike in US interest rates.

However, caution prevailed after retail inflation rose to 4-month high of 3.65 per cent in February and that of wholesale prices shot up to a 39-month high of 6.55 per cent.

The Sensex had soared 540.69 points in the previous three sessions following the BJP’s landslide win in UP and Uttarakhand.

The 30-share index was trading higher by 26.22 points,or 0.08 per cent, at 29,468.85. A number of sectoral indices,led by consumer durables, healthcare, oil and gas, FMCG and infrastructure, were in the positive space.

The NSE index Nifty edged up by 3.40 points, or 0.03 percent, to 9,090.40. It had touched a life high of 9,087 yesterday.

The increased buying momentum borne out by the fact that foreign funds purchased shares heavily lifted mood.

Among other Asian markets, Shanghai Composite rose 0.10 per cent while Hong Kong’s Hang Seng was down 0.18 per cent in early trade today. Japan’s Nikkei shed 0.29 per cent.

The US Dow Jones Industrial Average also ended 0.21 percent down yesterday.

PTI