Indian stock markets gained in the day’s session after Euro zone lawmakers agreed upon the terms for Greece’s second bailout. Rate sensitives gained on hopes of rate cuts by the RBI at its next meeting on March 15, 2012. Meanwhile, the government released the first nationwide retail inflation data which showed that inflation based on the all India Consumer Price Index stood at 7.65% in January.
The BSE Sensex ended at 18,429 (+0.8%), having ranged between 18,471 and 18,294 in the session. The BSE Mid and Smallcap indices outdid their benchmark by rising 0.9% and 1.2% respectively. The 50-scrip S&P CNX Nifty ended at 5,607, up 43 points from the previous trading session. On the BSE, 1,674 scrips advanced, 1,301 declined while 112 remained unchanged.
BSE Realty lead the sectoral indices on the Bombay Stock Exchange, up a strong 4.3% on hopes of a reduction in rates going forward; among its individual components, Unitech saw a rise of over 13% in the day, with Oberoi Realty up 8.5%. BSE CD followed, up 3.3% with BSE Oil & Gas the third biggest gainer, up 2.3%.
BHEL led the individual gaining stocks making up the Sensex, up 4.8%, on some on reports that the Cabinet Committee on Economic Affairs will impose import duty at the rate of 20% on the power generation equipment for projects above 1,000 MW. ONGC gained 3.7% on some on reports that overseas investors have assured the government they would buy up the proposed 5% stake sale in the company.
Investment data from SEBI showed that FIIs invested Rs 595 cr in the equities segment but pulled out Rs 163 cr from the debt segment.