Stocks gain 0.42 per cent after relief rally on easing inflation worries

Benchmark indices Sensex and Nifty gained up to 0.42 per cent on value buying by investors after recent losses on easing inflation worries and positive global cues.

The 30-share barometer rose by 141.52 points, or 0.41 per cent, to close at 34,297.47. The broader NSE Nifty gained 44.60- points, or 0.42 per cent, to end at 10,545.50 after touching a high of 10,618.10.

WPI inflation easing to six-month low of 2.84 per cent in January and encouraging earnings by some blue chips boosted the sentiments, brokers said.

Overseas, Asian stocks gained taking cues from the rally on Wall Street overnight following the release of stronger-than-expected US inflation data, traders.

Foreign portfolio investors (FPIs) sold shares worth Rs 728.71 crore on net basis, while domestic institutional investors (DIIs) too sold equities to the tune of Rs 152.3crore on Wednesday, provisional data showed.