Market Closing 11 Feb 2010

11 Feb 2010, Market Closing  15:34

Nifty hurdled at 4830-4840 level as mentioned in the morning.Traders remained cautious even after the firm opening in the morning as the long weekend is ahead.Market will remain closed tomorrow i.e. 12th Feb 2010 on account of MahaShivRatra.Nifty closed 4827.35 after gaining 70 points and Sensex closed at 16151.56 after gaining nearly 230 points. Market breadth was positive in the ration of 1.75:1 as 803 stocks gained and 457 stocks declined today on NSE .

All BSE sectoral indices closed in positive.Oil & Gas was the major gainer with 2.25% followed by Auto(2.08%) , Realty(2.05%) and Metal (1.62%).

Among Nifty50 stocks, Unitech was the top gainer with 3.68% and closed at 74.75

Inflation :

Food inflation rose for the successive third week, moving closer to 18 per cent for the week ended January 30, on account of rising prices of potato and pulses.
The wholesale price-based food inflation rose to 17.94 per cent in the last week of January from 17.56 per cent in the previous week
Potato prices jumped 40.57 per cent over the last year, while pulses became dearer by 41.24 per cent.
The inflation for primary articles, which include food and non-food items in raw form, increased to 15.75 per cent during the week from 14.56 per cent a week earlier.
The price index for food articles, on the weekly basis, moved up 0.3 per cent on account of higher rates of fruits and vegetables (2 per cent), while rates of fish marine, spices, condiments and bajra increased by one per cent each.
Last week, however, Prime Minister Manmohan Singh had said the worst of food inflation was over and the situation will ease soon.
" The worst is over as far as food inflation is concerned. I am confident that we will soon be able to stabilise food prices," he had said while addressing the Chief Ministers' conference on food prices here.