Sensex ranged ahead of Fed meet; May WPI inflation up at 0.79%

The market remained rangebound in afternoon trade with the Nifty hovering around 8100 ahead of Federal Reserve’s two-day meeting that will start tonight.

The Sensex fell 26.72 points to 26370.05 and the Nifty declined 9.70 points to 8100.90 while the broader markets continued to outperform.

The BSE Midcap and Smallcap indices gained 0.3-0.8 percent on positive market breadth. About 1506 shares advanced against 768 declining shares on Bombay Stock Exchange.

Wholesale price index inflation in May increased to 0.79 percent from 0.34 percent in April while March inflation revised to negative 0.45 percent from negative 0.85 percent.

Food articles inflation jumped at 7.88 percent against 4.23 percent and even fuel inflation increased at 6.14 percent against negative 4.83 percent on month-on-month basis.

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Posted in: Indian Market Tips