Market Today, Sensex, Nifty Share Prices Updates: The frontline indices on the National Stock Exchange (NSE) and BSE opened lower on Thursday after India’s retail inflation spiked to a five-month high in September, stoking fears of further rate hikes by the Reserve Bank of India (RBI) and on weakness in the global market.
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At 9:15 am, the S&P BSE Sensex was down 133.44 points (0.23 per cent) at 57,492.47 and the Nifty 50 was trading at 17,091.70, down 31.90 points (0.19 per cent).
In the early deals, Wipro, HDFC, HDFC Bank, Kotak Mahindra Bank, TCS and ICICI Bank were the top losers in the Sensex pack while HCL Tech, M&M, Tata Steel, Dr. Reddy’s IndusInd Bank and NTPC were the top gainers.
India’s Consumer Price Index (CPI) rose to a five-month high of 7.41 per cent in the month of September and the factory output, measured through the Index of Industrial Production (IIP), witnessed a contraction of (-)0.8 per cent in August, two separate data released by the Ministry of Statistics & Programme Implementation (MoSPI) showed Wednesday.
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This is the ninth consecutive time that the CPI print has come above the RBI’s upper margin of 6 per cent. CPI data is primarily factored in by the central bank while preparing their bi-monthly monetary policy. So far in this financial year, the RBI has raised the key interest rate by 190 bps in a bid to check the raging inflation.
More to follow
