New Delhi: The markets rallied upwards and closed in the green with lower than expected inflation numbers and falling crude prices. The BSE benchmark index Sensex closed up by more than 523 points to close at 13635. Nifty too closed up by 145 points at 4092.25.
Inflation rose marginally to 11.91% for the week ended 5 July. It was below the market expectations of over 12%.
IDFC (15.47%), ICICI Bank (617.60), Indian Bank (10.08% and Essar Shipping (9.99%)were the key gainers on the BSE.
Among the key losers IT stocks were the ones to be hammered the most. Satyam Computer lead the fall on the BSE with a decrease of 7.52%. HCL Technologies was down 5.36% and Wipro was down 3.67%.
Ranbaxy too was down by 3.45% while Tata Steel was down by 2.44%.