The benchmark indices Sensex and Nifty remain fairly well placed in the positive territory in early afternoon trade thanks to sustained buying in information technology, metal and auto stocks.
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While the Sensex is up with a gain of 174.88 points or 1.62% at 10,992.42, the Nifty has gained 42.10 points or 1.26% at 3372.40.
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According to a release from the government around noon, inflation rose 0.26% for the week ended April 11, as against 0.18% in the previous week. It was above a median forecast of 0.09 per cent. The annual inflation rate was 7.95 per cent during the corresponding week of the previous year.
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Wipro, which opened on a firm note this morning, is up by over 6.5% at Rs 300 now. Tata Steel has rallied to Rs 254, recording an impressive gain of 5.3%. Reliance Communications is up by around 3.5% at Rs 221.65.
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Tata Consultancy Services and Infosys Technologies have moved up by 3.1% and 2.8% to Rs 559.60 and Rs 1418 respectively. Reliance Infrastructure has gained 2.7%. Tata Motors, ICICI Bank, Sterlite Industries, Grasim Industries, Mahindra & Mahindra, Larsen & Toubro, Reliance Industries, BHEL and Maruti Suzuki are up by 1% - 2.5%.
Hindustan Unilever, Hindalco, Jaiprakash Associates, DLF and ONGC have posted modest gains.
SAIL has surged 4.8% to Rs 112.40 now. Hero Honda, Cairn India, Ambuja Cements, Power Grid Corporation, Siemens, Axis Bank, Nalco, Suzlon Energy, Reliance Capital, Reliance Petroleum, Cipla, Punjab National Bank and Reliance Power have also risen sharply on firm buying support.
Bharti Airtel and Sun Pharmaceuticals are down by 1.7% and 1.55% respectively. Ranbaxy Laboratories, ITC and HDFC Bank, the other losers in the Sensex, are down marginally from their previous closing levels. Unitech, HCL Technologies, BPCL and ABB are among the prominent losers in the Nifty pack.
Among Junior Nifty stocks, Indian Hotels, JSW Steel, Tech Mahindra, Adani Enterprises, Kotak Bank, Union Bank of India, Cummins India, Jindal Steel, Bharat Electronics and Patni Computer Systems are up by 2% - 4.5%.
Oracle Financial Services, Glenmark Pharmaceuticals, Moser Baer, IDBI, Bank of Baroda and MphasiS have also posted sharp gains.
