Markets holding firm despite rise in inflation

April 25th, 2008 - 5:34 pm ICT by admin  

A file-photo of Sensex

Mumbai, April 25 (IANS) Despite the rise in inflation rates, markets were holding firm and trading in positive zone in afternoon trade Friday. Good corporate results from frontline companies boosted sentiment and telecom stocks were on demand. Inflation rose to 7.33 percent for the week compared to 7.14 percent of the previous week.

At 12.30 p.m., the 30-share BSE Sensex was up 189.25 points or 1.13 percent at 16,910.53. It opened higher at 16,781.97 and advanced further to hit a high of 16,921.87 in mid-morning trade. At day’s high, the Sensex rose 200.79 points.

The market breadth was positive on BSE with 1,282 shares advancing as compared to 1,009 that declined; 51 remained unchanged.

Among the 30-member Sensex pack, 21 advanced while the rest declined.

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