Bajaj Finance was the top gainer in the Sensex pack, rising 0.78%, followed by Dr Reddy’s, Kotak Bank, ICICI Bank, IndusInd Bank, Sun Pharma, Axis Bank and Reliance Industries.
Equity benchmark Sensex rallied over 180 points in early trade on September 14 as buying sentiment picked up in the market due to subdued retail inflation.
Apart from this, a firm trend in other Asian markets also supported the rally in the domestic equity market, brokers said.
The 30-share Sensex was trading 186.98 points or 0.32% higher at 58,364.74. Similarly, the Nifty rose 54.65 points, or 0.31%, to 17,409.95 in early deals.
Bajaj Finance was the top gainer in the Sensex pack, rising 0.78%, followed by Dr Reddy’s, Kotak Bank, ICICI Bank, IndusInd Bank, Sun Pharma, Axis Bank and Reliance Industries.
On the other hand, Infosys, Bajaj Auto, PowerGrid and UltraTech Cement were trading in losses.
The fall in prices of food items like vegetables pushed retail inflation down to 5.3% in August for the third consecutive month, which is within the Reserve Bank of India’s comfort zone.
While consumer price index (CPI)-based retail inflation declined to 5.3% in August from 6.69% in the same month a year ago, food inflation declined at a much faster pace to 3.11% from 9.05% in August 2020.
The Sensex had closed 127.31 points or 0.22% lower at 58,177.76 in the previous session. The broader NSE Nifty ended 13.95 points or 0.08% lower at 17,355.30.
Elsewhere in Asia, shares in Shanghai, Seoul, Tokyo and Hong Kong were trading with gains in mid-session deals.
US stocks ended largely in positive territory in the overnight session.
Foreign institutional investors (FIIs) were net buyers in the capital market as they bought shares worth Rs 1,419.31 crore on September 13, as per provisional exchange data.
Meanwhile, international oil benchmark Brent crude rose 0.44% to $73.83 a barrel.
.