Sensex rises over 180 pts in early trade on easing inflation, firm cues

Bajaj Finance was the top gainer in the Sensex pack, rising 0.78%, followed by Dr. Reddy’s, Kotak Bank, ICICI Bank, IndusInd Bank, Sun Pharma, Axis Bank and Reliance Industries

Equity benchmark Sensex surged over 180 points in early trade on September 14, as easing retail inflation triggered buying sentiment in the market.

Besides, a firm trend on other Asian bourses also supported the uptick in domestic equities, brokers said.

The 30-share Sensex was trading 186.98 points or 0.32% higher at 58,364.74. Similarly, Nifty advanced 54.65 points or 0.31% to 17,409.95 in initial deals.

Bajaj Finance was the top gainer in the Sensex pack, rising 0.78%, followed by Dr. Reddy’s, Kotak Bank, ICICI Bank, IndusInd Bank, Sun Pharma, Axis Bank and Reliance Industries.

On the other hand, Infosys, Bajaj Auto, PowerGrid and UltraTech Cement were trading with losses.

Subdued prices of food items like vegetables pulled down retail inflation for the third month in a row to 5.3% in August, within the Reserve Bank of India’s comfort zone.

The Consumer Price Index (CPI)-based retail inflation declined to 5.3% in August from 6.69% in the same month a year ago, food inflation dipped at a much faster pace to 3.11% from 9.05% in August 2020.

In the previous session, the Sensex ended 127.31 points or 0.22% lower at 58,177.76. The broader NSE Nifty dipped 13.95 points or 0.08% to 17,355.30.

Elsewhere in Asia, bourses in Shanghai, Seoul, Tokyo and Hong Kong were trading with gains in mid-session deals.

U.S. equities ended largely in positive territory in the overnight session.

Foreign institutional investors (FIIs) were net buyers in the capital market as they purchased shares worth ₹1,419.31 crore on September 13, as per provisional exchange data.

Meanwhile, international oil benchmark Brent crude rose 0.44% to $73.83 per barrel.

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