Date:12/04/2008 URL: http://www.thehindu.com/2008/04/12/stories/2008041252141600.htm

Business

Sensex gains 113 points

MUMBAI: With inflation soaring further, the index of industrial production (IIP) data giving a cushioning comfort and Asian indices surging, it was a mixed bag of cues for the Bombay Stock Exchange, whose benchmark Sensex settled the day 112.54 points higher at 15807.64 over its previous close.

The S&P CNX Nifty improved by 44.80 points to 4777.80. “Markets are uncertain and confused and are behaving in an erratic manner.

Despite inflation soaring to a new high the sentiment was positive, as the domestic negative news have already been discounted in the market and stocks have been oversold,” SMC Global Vice-President, Rajesh Jain, said. Brokers said the industrial growth of 8.6 per cent in February was better than what was expected by the market. It was higher than 5.3 per cent in January. — PTI