nse English news | nse, Latest News & Live Updates in English | English News (Latest English News) at Lokmattimes.com

Mumbai, Sep 14 Easing retail inflation along with stable Asian cues lifted India's key stock indices on Tuesday.Initially, both the key indices S&P BSE Sensex and NSE Nifty50 had a gap-up opening. In the process, Nifty marked a new record high of 17,438 points.On Monday, official data released after market hours had showed that India's August retail inflation eased to 5.30 per cent from 5.59 per cent in July.The macro-economic data assumes significance as it brings the retail inflation mark in the range of the Reserve Bank of India's set target of 2-6 per cent for CPI inflation.Accordingly, the declining retail inflation rate reduces the chance of the RBI to tightening its monetary policy.Besides, another set of data showed that higher prices of primary articles as well as manufactured goods pushed India's August 2021 wholesale inflation to 11.39 per cent from 11.16 per cent in July.Globally, Asian stocks were largely up except China and Hong Kong, while European stocks slipped on Tuesday as caution ahead of the US inflation data and weakness in luxury and mining shares offset optimism around the region's economic recovery.On a stock specific basis, metal stocks were the main losers while consumer durables, automobiles and utilities were the main gainers.At the end of the day's trade, S&P BSE Sensex closed at 58,247.09 points, higher by 69.33 points or 0.12 per cent from its previous close.Similarly, NSE Nifty50 ended the day's trade session on a positive note. It rose to 17,380 points, higher by 24.70 points or 0.14 per cent from its previous close."Nifty closed at its all-time high though on an intra-day basis it faced resistance from the previous high formed four days back. Advance decline ratio has improved to much above 1:1, bringing some positivity among the traders," said Deepak Jasani, Head of Retail Research, HDFC Securities.According to Siddhartha Khemka, Head, Retail Research, Motilal Oswal Financial Services: "Stock-specific activity remained high. Zee Entertainment rallied higher as shareholders sought to revamp the board at an AGM."The market might consolidate for some time on account of fragile global cues. Investors would react to the US inflation data which would be released later today and this would likely set the tone of the market for this week."Valuations too have moved beyond comfort zones and hence could lead to bouts of profit booking and increase in volatility.""A convincing breach of 17,437 could lead to acceleration in the upmove. On the other hand, 17,254 could act as a support," he added.Vinod Nair, Head of Research at Geojit Financial Services, said: "Despite a bullish opening, domestic indices closed flat with a positive bias amid mixed sentiments among global peers. India's retail inflation softened to 5.3 per cent in August, staying within RBI's comfort zone which was led by lower food inflation."However, the wholesale price inflation accelerated to 11.39 per cent, snapping the two-month easing trend owing to non-food articles. Global markets traded cautiously ahead of the US consumer price index to be released today."Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

NseFOLLOW

Nse, Latest News

Mumbai, Sep 21 Rising services exports and buying support lifted India's key stock indices during the mid-afternoon trade ... ...

Mumbai, Sep 21 India's key stock indices rose during the morning trade session on Tuesday. Accordingly, both key ... ...

Mumbai, Sep 20 The Indian stock market opened sharply lower on Monday on global cues with markets all ... ...

Mumbai, Sep 18 Sky-high valuations along with global tapering fears will impact stock market movements during the upcoming ... ...

Mumbai, Sep 17 India's key stock indices closed in the red on Friday as profit booking subdued sentiments ... ...

Mumbai, Sep 17 India's key stock indices rose during per-noon trade session on Friday to reach new intra-day ... ...

Mumbai, Sep 16 India's key stock indices rose during mid-afternoon trade session on Thursday to reach new intra-day ... ...

Mumbai, Sep 14 Easing retail inflation along with stable Asian cues lifted India's key stock indices on Tuesday. ... ...