Indian Markets Rise: Inflation Eases, Reliance & SBI Lead

Mumbai, May 14 (PTI) Equity benchmark indices climbed in early trade on Tuesday amid buying in Reliance Industries, State Bank of India and as retail inflation eased to an 11-month low of 4.83 per cent in April.

The 30-share BSE Sensex climbed 225.92 points to 73,002.05 in early trade. The NSE Nifty went up by 78.65 points to 22,182.70.

From the Sensex basket, JSW Steel, Power Grid, NTPC, Mahindra & Mahindra, Reliance Industries and State Bank of India were the major gainers.

Nestle, Asian Paints, Axis Bank and ITC were among the laggards.

Retail inflation eased to an 11-month low of 4.83 per cent in April as prices of some kitchen items declined though overall food basket firmed up marginally, according to government data released on Monday.

In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong were quoting lower.

Wall Street ended on a mixed note on Monday.

Global oil benchmark Brent crude climbed 0.12 per cent to USD 83.46 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 4,498.92 crore on Monday, according to exchange data.

Recovering from early lows, the BSE benchmark ended higher by 111.66 points or 0.15 per cent at 72,776.13 on Monday. The NSE Nifty climbed 48.85 points or 0.22 per cent to 22,104.05.