Market ends in green: Cap goods, energy stocks up

11 April 2008

The markets closed in green showing resilience to the bad news of inflation After soe initial hicups it ended higher amid volatility. Inflation numbers came in higher than estimates at 7.4%. Analyst were expecting inflation at 7%-7.2% but it came in as a negative surprise at 7.41%. Analyst expect some liquidity measures like CRR hike to curb inflation.

Both the midcap and smallcap indices ended in green. Banking space was trading weak and FMCG index is also trading flat.

Energy, realty, capital goods and select metal stocks closed at higher levels.

Capital goods index was top performer and is up over 3% as BHEL and L&T were the top gainers each up over 4%. Power stocks were looking good with Tata Power up over 4%.

Sensex closed up 112.54 points or 0.72% at 15807.64, and the Nifty up 44.80 points or 0.95% at 4777.80.

About 1670 shares have advanced, 1076 shares declined, and 328 shares are unchanged.