Jan inflation data boosts rate sensitive stocks

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January inflation data easing to 6.55% gave a fillip to the market, pushing Nifty above the 5400 mark. The index is trying hard to breakout of the consolidation range. A close above 5400 will make bearish traders a bit jittery to hold short positions.

The Sensex was up 58.36 points or 0.33% at 17831.20, and the Nifty was up 21.55 points or 0.40% at 5411.75. About 1543 shares advanced, 1268 shares declined, and 588 shares remain unchanged.

The interest rate sensitive sectors like realty, auto and banks were on buyers radar today.

The earnings season continues to surprise the street on negative side. Jaiprakash Associates, HDIL, Everonn Education and UTV Software added to the list of MISSES for this quarter.

Index heavyweight Reliance was trading at Rs 849.75 up 0.19% from its previous close of Rs 848.15. Tech major Infosys was trading at Rs 2,790.15 up 0.21% from its previous close of Rs 2,784.30. Refinery major HPCL was trading at Rs 285.15 up 0.21% from its previous close of Rs 284.55

Hindustan Lever was trading at Rs 391.25 up 0.03% from its previous close of Rs 391.15. Cigarette major ITC was trading at Rs 202.20 down 0.27% from its previous close of Rs 202.75.  

Top gainers on the BSE Midcap: Jain Irrigation, Alstom Projects, Phoenix Mills, Hind Constr and HDIL were up 7-8%.

Top losers on the BSE Midcap: Manappuram Finance, Shree Global, Vaarad Ventures, Glodyne Techno and SREI Infra were down 4-5%.

Top gainers on the BSE Smallcap: Henkel India, Sasken Communications, MSP Steel, Jyothy Labs and NESCO were up 11-20%.

Top losers on the BSE Smallcap: Gati, Polyplex Corp, Essar Shipping, Career Point and Bhansali Eng were down 5-10%.