Sensex ended on Wednesday at 28,372.23, Nifty settled at 8,726.60.
In a range-bound session, benchmark BSE Sensex ended higher by 19 points at 28,372.23, snapping its two-day losing spell, on fag-end buying in banking, auto and consumer durables amid positive European cues. The 30-share index resumed lower at 28,345.49 and dropped further to 28,259.38 due to initial heavy selling pressure as wholesale inflation soared to a two-year high of 3.74% in August.
Industrial output contracted by 2.4% in July, reflecting the worst performance in eight months mainly due to declining output in manufacturing and capital goods sectors. However, the consumer inflation eased to a five-month low of 5.05% in August, mainly because of a slower rate of price increase in vegetables as well as food and beverages.
However, the Sensex recovered to 28,416.41 before ending at 28,372.23, showing a gain of 18.69 points or 0.07%. The gauge had fallen by 691.74 points in the previous two sessions. The 50-share Nifty too settled 11 points or 0.13% higher at 8,726.60 after moving between 8,739.85 and 8,688.90. Of the 30-share pack, 17 closed with gains, while 13 ended in negative terrain.
Brokers said renewed expectations that RBI may announce a cut in its rate at its meeting next month, after retail inflation fell to a five-month low, triggered buying in banking and a few other stocks. Among banking scrips, state-run SBI gained the most by rising 1.94% to Rs 257.60, Axis Bank climbed 1.71% to Rs 602.30 and ICICI Bank rose 1.06% to Rs 271.60.
Other gainers in the Sensex kitty included, Adani Ports, Tata Motors, NTPC, Hero MotoCorp, Cipla, Dr Reddy's, Asian Paints, GAIL, L&T, Bajaj Auto, Maruti Suzuki and Bharti Airtel, rising by up to 2.93%. Coal India suffered the most by diving 1.72% to Rs 325 after the company reported a 14.7% decline in consolidated net profit for the quarter ended June 30.
Tata Steel, however, rose 0.04% to 373.75 despite the company's net losses mounted manifold to Rs 3,183 crore on consolidated basis in the first quarter ended June 30. Sector-wise, consumer durables gained the most by rising 1.12%, followed by infra with a rise of 0.99%, banking 0.77%, PSU 0.60%, auto 0.57% and power 0.55%.
Broader markets too were in a better shape as investors made selective buying, with the BSE mid-cap rising 1.34% while small-cap index gained 1.21%. Meanwhile, Foreign portfolio investors sold shares worth net Rs 593.61 crore on Monday, as per provisional data.
Stock Exchanges were closed on Tuesday on account of 'Id-ul-Zuha'. In regional markets, Japanese stocks led decline by diving 0.69%. Key indices in China, Hong Kong and Singapore dropped by up to 0.68%. European markets were, however, higher in their early deals as the key indexes in France, Germany and the UK were up in the range of 0.02% to 0.27%.
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
 "BSE Sensex PTI")
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
)
){kind=small}
){kind=small}
)
)
)
)
)
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}