The Indian market ended with smart gains today snapping the three day losing streak. Markets rallied after India’s wholesale inflation cooled to its weakest pace in 10 months in November. Inflation saw a marginal decline to 7.24% as compared to October's 7.45%. Market participants also cheered the announcement that the cabinet approved a urea policy that will make the country self-sufficient in fertilizers besides brining in projects to the tune of Rs350 bn. This led the Sensex to close at the level of 19322.22 i.e., up by 92.96 points and the Nifty to close at the level of 5879.6 i.e., up by 28.1 points. The midcap counters closed positive by over half a percentage point while small-cap counters closed positive by less than half a percentage point. On the sectoral front, the indices closed mixed. Metal index closed as the major gainer with gains of nearly two and a half percentage points while Consumer Durables index closed as the major loser with losses of over a percentage point. Further, the market breadth closed flat.
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