Tag: inflation rate

MARKET UPDATE: Sensex surged over 500 points to trade around 58,409 levels while Nifty50 advanced over 150 points to trade above 17,150 levels

Wednesday, March 15, 2023
Opening Bell: The Indian markets edged higher in today's(15 March 2023) trade to snap a four-day losing streak, after February inflation slowed to 6.4 percent. Key indices Nifty50 advanced over 150 points to trade above 17,150 levels, whereas the S&P BSE Sensex surged over 500 points to trade around 58,409 levels. Broader markets, too, inched higher in the trade as Nifty Midcap 100 and Nifty Smallcap 100 indices gained up to 1 percent. The volatility index, India VIX, meanwhile, slipped over 6 percent. Read more

MARKET UPDATE: Sensex fell 47 points to 61,748, while Nifty unchanged at 18,344

Monday, November 14, 2022
Opening Bell: Indian Equity markets opened flat today(14 November 2022) as investors await retail and wholesale inflation readings for October. The BSE Sensex fell 47 points to 61,748, while the NSE Nifty was nearly unchanged at 18,344. Among the 30-Sensex constituents, Tata Steel, PowerGrid, M&M, Kotak Bank, and IndusInd Bank opened with the most gains (up to 2 percent higher ). While Hindalco, Apollo Hospitals, and JSW Steel were the additional frontrunners on the Nifty index. Dr. Reddy's, SBI, Divis's Labs, Sun Pharma, ITC, and Maruti Suzuki were the top drags across the two frontline indices, up to x percent lower. In the broader market, the BSE midcap and smallcap indices held fractional cuts, down up to 0.3 percent. Read more

Indian Wholesale inflation soars to 10.49% in April

Monday, May 17, 2021
Wholesale inflation in India accelerated to 10.49 percent in April on account of a surge in the prices of fuel and manufactured products, data released by the commerce and industry ministry showed. The wholesale inflation rate, measured by WPI, has been rising continuously since December. It soared to an eight-year high in March to 7.39 percent. The latest price data released by the government today(17th May 2021) showed that food prices rose to 4.92 percent in April, along with a massive price surge in manufacturing products at 9.01 percent. Fuel and power inflation stood at nearly 21 percent led by higher petrol and diesel prices. Read more

GOI may recommend a looser inflation target for RBI

Wednesday, December 9, 2020
GOI is considering recommending a looser inflation target for RBI, allowing it to focus more on economic growth despite price pressures, according to some sources. A consumer-price inflation band tracked by the Reserve Bank of India may be relaxed further from the current 2%-6% range. The government still needs to hold consultations with the central bank before finalizing a new framework sometime next year. The current mandate, set in 2016, requires the RBI to keep headline inflation at the 4% midpoint of its target range. The Finance Ministry is of the view that the RBI can’t be saddled with a rigid inflation targeting framework, especially in situations when growth needs to be pushed, as per the sources. Read more