The market ended higher for the second consecutive session amid high volatility on April 15 despite weak wholesale inflation data. At close, the Sensex was up 259.62 points or 0.53% at 48803.68, and the Nifty was up 76.70 points or 0.53% at 14581.50.
March WPI inflation came at 7.39% versus 4.17%. Food inflation stood at 5.28% versus 3.31% and manufactured products inflation was at 7.34% versus 5.81%, MoM.
On the sectoral front, auto and PSU bank indices shed 1 percent each, while metal and pharma indices rose over 1 percent each. BSE midcap and smallcap indices ended flat.
"One more positive session witnessed today as the index closed the day at 14581 with gains of more than half percent and formed a bullish candle for the second consecutive day," said Rohit Singre, Senior Technical Analyst at LKP Securities.
"The index has formed a good base near 14460-14350 zone. If managed to sustain the above-said levels, we may see a northward move towards 14700-14800 zone which is an immediate and strong hurdle on the higher side. The overall range for Nifty is between 14250 on the downside and 15k on the higher side," he added.
TCS, Cipla, ONGC, Wipro and Adani Ports were among the major gainers on the Nifty, while losers included Eicher Motors, Grasim Industries, Infosys, Maruti Suzuki and IndusInd Bank.
Stocks & sectors
On the BSE, the metal and bank indices rose 1 percent each. Buying also witnessed in the healthcare, oil & gas and power sectors. However, auto index slipped 1 percent.
| Index | Prices | Change | Change% |
|---|---|---|---|
| Sensex | 84,651.34 | 184.83 | +0.22% |
| Nifty 50 | 25,928.60 | 52.80 | +0.20% |
| Nifty Bank | 58,534.00 | 259.35 | +0.45% |
| Biggest Gainer | Prices | Change | Change% |
|---|---|---|---|
| Asian Paints | 2,866.50 | 96.70 | +3.49% |
| Biggest Loser | Prices | Change | Change% |
|---|---|---|---|
| Eternal | 304.60 | -4.20 | -1.36% |
| Best Sector | Prices | Change | Change% |
|---|---|---|---|
| Nifty Metal | 10695.40 | 152.90 | +1.45% |
| Worst Sector | Prices | Change | Change% |
|---|---|---|---|
| Nifty IT | 36715.20 | -140.20 | -0.38% |
Among individual stocks, a volume spike of more than 100 percent was seen in SAIL, Aurobindo Pharma and Siemens.
Long buildup was seen in SAIL, Mindtree and Wipro, while a short buildup was seen in Dr Lal PathLabs, Shriram Transport Finance and Apollo Tyres.
More than 100 stocks, including Prabhat Dairy, JSW Steel, Aurionpro Solutions and Balrampur Chini Mills hit a fresh 52-week high on the BSE.
Technical View
The Nifty formed a bullish hammer candle with a long lower shadow indicating declines were being bought.
"The Nifty has to decisively hold above 14,500 zones for an up move towards 14,700 and 14,850 zones, while on the downside, support exists at 14,350 and 14,250 zones," said Chandan Taparia of Motilal Oswal Financial Services.
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