Sensex, Nifty fight off macro blues, trade positive
Mumbai: Stock market on Wednesday tried to shake off macro blues by changing course and jumping 143 points. Consumer durables and healthcare stoked buying interest.
Dismal macro data -- released on Tuesday after market hours -- led to selling pressure as November CPI inflation hit a 15-month high of 4.88 per cent and October industrial output growth dropped to a 3-month low of 2.2 per cent.
Investors are tracking Federal Reserve's latest policy meeting outcome later on Wednesday.
The 30-share index was up by 142.87 points -- 0.43 per cent -- at 33,370.86 at 1204 hours. The 50-share Nifty hit 10,288.65, up 48.50 points, or 0.47 per cent. Kotak Bank is in the lead, gaining 1.94 per cent, followed by Hindustan Unilever.
Foreign portfolio investors (FPIs) net bought shares worth Rs 843.20 crore on Tuesday while domestic institutional investors (DIIs) sold equities to the tune of Rs 853.67 crore.
Asian markets were mixed. US stocks rose yesterday amid growing optimism that Republican lawmakers would be able to revamp the corporate tax system. Wall Street also looked up to the Federal Reserve policy announcement.