Key benchmark indices edged higher after seven consecutive days of decline on easing fears of near-term tapering by the U.S. Federal Reserve while domestic bonds gain on RBI's open market operations announcement. Earlier Federal Reserve chairman nominee Janet Yellen signaled stimulus will be maintained until the US economy improves, which led to the improvement in global sentiments. However, market gave up strong gains witnessed in early deals after the latest data showed that the wholesale inflation quickened in October. CNX Nifty closed up over 1.1 %( 66.55) at 6056.
The market breadth, indicating the overall health of the market, was positive. In Nifty50 stocks the advance to decline stood at 38 advance to 11 declines. Among the sectoral indices Auto, Banking, Realty were the clear outperformers whereas the defensive bet like Pharma, CNXIT & FMCG were the laggards in today’s market.
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