Nifty below 8850, Jan WPI inflation at -0.39%; ITC up 2%


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The Nifty is struggling below 8850. The 50-share index is up 34.30 points at 8839.80. The Sensex is up 132.42 points at 29227.35. About 1191 shares have advanced, 1317 shares declined, and 195 shares are unchanged.

January wholesale price index inflation drops to negative 0.39 percent from 0.11 percent in December. Food articles index was down 0.6 percent (M-o-M) while Fuel & Power group index was down 2.5 percent (M-o-M).

HUL, Bharti, Tata Motors, ITC and Dr Reddy’s Labs are top gainers while Sun Pharma, Hero, Axis Bank and ICICI Bank are losers.

Silver prices gained 0.20 percent to Rs 38,268 per kg in futures trading today as speculators enlarged positions amid positive cues from overseas markets. Analysts said a better trend in precious metals in global markets influenced silver prices at futures trade here. Meanwhile, silver traded 0.06 percent higher at USD 17.33 an ounce in Singapore.
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