Nifty was trying to hold the 5500 level amid a choppy trade, especially after higher-than-expected inflation data. Public sector undertaking, capital goods, banking, power, Anil Group, FMCG and select technology companies’ shares were supporting the market.
Even global markets were doing quite supportive role. European markets like France’s CAC and Germany’s DAX gained 1-1.5%. Britain’s FTSE went up 0.5%. Asian markets closed in a positive terrain.
However, Reliance Industries and HDFC continued to reel under selling pressure, which has capped the gains to major extent. Tata Motors, Hindalco, IDFC, Tata Steel, Cipla, Ambuja Cements and GAIL were other losers in trade.