Food Inflation rises to 16.74%

NEW DELHI: Food Inflation rose marginally to 16.74 per cent for the week ended May 29 on high prices of pulses, milk and fruits.

Inflation increased by 0.19 percentage point from 16.55 per cent in the previous week, food inflation data released on Thursday showed.

Prices of pulses shot up by 31 per cent, milk by 21.1 per cent and fruits by 18.7 per cent.

However, potatoes and onions became cheaper by 30.87 and 12.27 per cent respectively.

For the month ended April, the overall inflation, which includes manufactured goods, stood at 9.59 per cent.

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Sensex rises 95 pts on funds buying

MUMBAI: The Bombay Stock Exchange benchmark Sensex on Thursday rose by over 95 points in early trade on buying by funds and retail investors.

The 30-share index, which gained 40.79 points in the previous session, gathered another 95.51 points, or 0.57 per cent, to 16,753.40 points.

Stocks of auto, oil & gas and metal sectors were leading the rally.

The wide-based National Stock Exchange index Nifty gained 28.40 points, or 0.52 per cent, to 5,028.70 points.

Brokers said increased buying by foreign funds and retail investors helped the Sensex remain in the positive for the second straight session, but overnight losses in the US market and mixed cues from Asian markets capped gains.

Among auto stocks, Tata Motors gained 0.95 per cent to Rs 735, Mahindra and Mahindra was up 0.99 per cent to Rs 582.90 and Maruti Suzuki rose by 0.46 per cent to Rs 1,308.30.

Stocks of most-weighted Reliance Industries was up by 0.60 per cent to Rs 1.012.90 supported by reports that the company was looking to enter the telecom sector.

Rcom was up 0.32 per cent to Rs 170.50, Bharti Telecom by 0.79 per cent to Rs 274.30, Sterlite Industries by 0.78 per cent to Rs 634.45, Hindalco by 1.54 per cent to Rs 135.05 and State Bank of India by 0.97 per cent to Rs 2,295.

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