The market continues to gain in a late buying spree. The Sensex is up 76.75 points or 0.3 percent at 25765.61, and the Nifty is up 16.05 points or 0.2 percent at 7882.10. About 1217 shares have advanced, 1222 shares declined, and 152 shares are unchanged.
Dr Reddy’s Labs, HUL, Axis Bank, BHEL and GAIL are top gainers while Tata Motors, Hindalco, ONGC, NTPC and ITC are losers in the Sensex. The newly listed stock Ujjivan Financial and Axis Bank are most active stocks on the NSE.
Meanwhile, industrial production in March is likely to grow at 1.9 per cent while deflationary pressure in the wholesale price index will moderate in April data, India Ratings and Research said today. Ind-Ra estimates the Index of Industrial Production (IIP) growth for March to come in at 1.9 per cent and Wholesale Price Index (WPI) based inflation at (-)0.4 per cent in April. The Consumer Price Index (CPI) based retail inflation is projected to come around at 4.9 per cent, it said.
“Industrial production in March 2016 is likely to remain close to February 2016 levels and on the price front wholesale price deflation will continue to moderate and retail inflation will remain stable in April 2016,” Ind-Ra said in a statement. Industrial production grew 2 per cent year-on-year in February after staying negative for the last three months. Ind-Ra said it expects industrial production in March to get a boost from better performance in the core sectors of the economy.