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Sensex ends flat on high inflation, Mumbai blasts

The 30-share Bombay Stock Exchange index Sensex swung in a 350-range of 18,803.05-18,449.23 before ending with moderate gains of 22.18 points at 18,618.20.

BT Online Bureau   Mumbai     Last Updated: July 14, 2011  | 17:06 IST

The Sensex on Thursday closed flat, just 22 points up in a volatile trade, as three blasts in the country's financial hub on Wednesday made investors nervous, and overall inflation rose below the market expectations.

The 30-share Bombay Stock Exchange index Sensex swung in a 350-range of 18,803.05-18,449.23 before ending with moderate gains of 22.18 points at 18,618.20.

After a lower start following reports of triple bomb blast in Mumbai Wednesday evening, the 30-share index surged as Home Minister P Chidambaram said terrorist attacks' aim was not to unnerve the business centres , but to hit at congested and populated areas.

Besides, overall inflation - measured in whole price inflation index - climbed 9.44 per cent in June from 9.06 per cent in May, much below market expectations and helped the market to wipe-off the day's earlier losses.

Yet, the stocks took a plunge at the fag end on weak Asian trend and lower opening in Europe, erasing most of the gains.

Broad-based National Stock Exchange index Nifty ended 14.35 points higher at 5,599.80 after moving in 5,653.95 and 5,541.70 points range.

Banking stocks advanced on hopes that a slower rise in a monthly inflation may reduce the prospects of a further hike in interest rates. Largest lender State Bank jumped 1.39 per cent, largest private lender ICICI Bank 1.40 per cent, HDFC 1.01 per cent, and HDFC Bank 0.55 per cent to Rs 505.90.

Banking index rose 1.04 per cent to 12,879.34.

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