Sensex, Nifty close marginally higher as wholesale inflation eases

Sensex, Nifty close marginally higher as wholesale inflation eases

Mumbai (Maharashtra): Following the announcement of wholesale price inflation numbers, the market indices ended marginally higher on Monday.

The BSE’s Sensex ended 112.78 points higher at 34,305.43, while Nifty edged marginally above 10,500 to trade at 10,528.35.

Shares of Cipla, Grasim Industries and UPL rallied up to 5 percent, while those of Wipro, SBI, Tech Mahindra and Bharti Airtel traded under pressure.

Furthermore, Infosys ended with a loss of 3 percent after lowering EBIT margin guidance for FY19, reported Moneycontrol.

India’s annual WPI inflation eased to a nine-month low of 2.47 percent in March, owing to a fall in prices of vegetables and other food and beverages.

Meanwhile, the buildup inflation rate in the financial year so far was 2.47 percent, compared to a build-up rate of 5.11 percent in the corresponding period of the previous year, the Ministry of Commerce and Industry revealed on Monday. (ANI)