The market has gone flat as the Sensex is up
89.42 points at 29184.35. The Nifty is up 23.10 points at 8828.60. About 1257
shares have advanced, 1386 shares declined, and 199 shares are unchanged.
M&M, Bharti Airtel, ITC, HUL and Tata Steel
are top gainers in the Sensex. Among the losers are Sun Pharma, Hero Motocorp,
ICICI Bank, Axis Bank and Infosys.
Wholesale prices declined an annual 0.39 percent
in January, their second fall in three months, on the back of a sharp
correction in oil prices, government data showed. The reading for November
wholesale price inflation was revised to -0.17 percent from 0.0 percent
earlier.
Oil prices steadied as Japan's economy emerged from recession and as strong demand for refined products translated into healthy orders for crude.
Japan's economy rebounded from recession in the
final quarter of last year, supporting oil prices, even though the data was
weaker than expected. Analysts said that healthy demand for refined products
was also buoying crude markets.