July 16, 2012 / 4:58 AM / 5 years ago

BSE Sensex flat; on hold for inflation

Stock brokers trade in a brokerage firm in Kolkata February 16, 2009.Jayanta Shaw/Files

Reuters Market Eye - The BSE Sensex gains 0.08 percent, while the 50-share Nifty advances 0.05 percent.

Shares lag the 0.32 percent gain in the MSCI Asia-Pacific ex-Japan index, which gains on receding fears of a hard landing in China.

Traders eyeing WPI inflation data for June due at 11 a.m. A Reuters survey forecasts wholesale prices rising by an annual 7.62 percent in June, the highest rate this year.

Banks recover after a three-day losing run total ling 1.5 percent as measured by the Nifty banking sub-index. State Bank of India gains 0.7 percent.

Infosys falls 1.3 percent, after already falling 9.8 percent in the previous two sessions, as the stock continues to reel from the company's sharp cut to yearly revenue guidance last week.

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