Sensex and Nifty jumped with inflation pulled down

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Mumbai:Both the Sensex and Nifty jumped on Monday, bucking a softer trend in global markets, as blue-chips advanced on strong factory and stable inflation data, while value-buying after three consecutive weekly declines also helped.

Pulled down further by a fall in manufactured product and fuel prices, the wholesale price index (WPI) based inflation for May 2015 contracted 2.36 per cent, the seventh straight month of decline. This is against WPI-based inflation of 6.18 per cent in the same month last year. In April this year, WPI-based inflation had contracted 2.65 per cent.

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The country’s factory output grew more than expected in April, reaching a two-month high, and retail inflation edged up, while wholesale prices fell at an annual rate of 2.36 percent in May, easing concern over an economy facing the worst drought since 2009.The 30-share BSE index Sensex jumped 161.25 points or 0.61 per cent to 26,586.55 and the 50-share NSE index Nifty gained 31 points or 0.39 per cent to 8,013.90.Wholesale fuel prices fell 10.51 per cent in May 2015, while manufacturing goods prices contracted 0.64 per cent.

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