After slipping into the negative terrain, the 30-share index Sensex soon came back into the positive.
 
India`s benchmark wholesale price index (WPI), inflation surged marginally for the second consecutive week because of growing prices of food items, jet fuel and alcohol.

It stood at 5.64% for the week ended Jan. 17, 2009, up 4 basis points as compared to 5.60% a week ago.

The Sensex continued to trade in a lusterless way amid volatility. Selling action was witnessed in power, oil & gas and consumer durables stocks.
 
BSE Midcap index lost 0.25%, while Smallcap index surged 0.17%.

At 1:04 p.m., the 30-share index Sensex was trading up 8.59 points at 9,266.06. It also touched a high of 9,379.68 and a low of 9,226.95.

Meanwhile the broad based Nifty stood at 2,825.40, up 24.10 points, after hitting a high of 2,873.85 and a low of 2,819.95.

Overall market breadth was mixed as it saw 1,060 progressions as against 1,084 declinations.

Major gainers in the 30-share index were Jaiprakash Associates (4.08%), Mahindra & Mahindra (3.49%), Maruti Suzuki India (3.46%), Tata Steel (3.11%), ICICI Bank (2.38%), and Housing Development Finance Corporation (2.21%).

On the other hand, Ranbaxy Laboratories (3.51%), Wipro (3.26%), DLF (2.81%), NTPC (2.69%), Bharti Airtel (2.60%), and Bharat Heavy Electricals (2.40%) were the major losers in the Sensex.

During the week, beer and alcohol prices surged 25%. In the fuel goods category, jet fuel and furnace oil became dearer by 4% and 1%, respectively.

Some of the food items that became expensive during the week due to the eight-day truckers` strike include maize, bajra, jowar, rice, sugar and gur.

The truckers` strike, which began on January 5, restricted the movement of goods, leading to price rise and scarcity.

Among manufactured items, prices of caustic soda, zinc and sacking bags became expensive during the week.

While the prices of fruit and vegetables remained unchanged during the week, those of cement and iron and steel declined marginally.