Sensex Today | Share Market Live Updates: Sensex, Nifty expect steady start
Sensex Today | Share Market Updates: Retail inflation declined to 6.83% in August after touching a 15-month high of 7.44 per cent in July, mainly due to softening prices of vegetables, but still remains above the RBI’s comfort zone.
The overall inflation in the food basket stood at 9.94 per cent in August as against 11.51 per cent in July, according to data released by the National Statistical Office (NSO) on Tuesday.
India’s industrial output rose at its fastest pace in five months in July, helped by strong mining and electricity activity, but high inflation and slowing pent-up demand may dampen future growth, economists said.
The mid-cap and small-cap indices saw steep corrections of 3-4% on Tuesday even as the Nifty ended just 0.02% lower but not before scaling the all-time high of 20110.35.
Sensex Today Live | Share Market Updates: Mining, power drive IIP growth to five-month high
India’s factory output rose to a five-month high of 5.7% in July, up from 3.7% in June, driven by strong growth in mining and power, official data released on Tuesday showed.
The Index of Industrial Production (IIP), or factory output growth, stood at 2.2% in July 2022, mainly due to a low base effect.
“The growth rates over the corresponding period of the previous year are to be interpreted considering the unusual circumstances on account of covid-19 pandemic since March 2020,” said an official statement. (Read More)
Sensex Today Live | Share Market Updates: Retail inflation slows to 6.83% as vegetable prices decline
Retail inflation moderated to 6.83% in August from a 15-month high of 7.44% in July due to easing vegetable prices, offering a measure of relief to the Indian central bank and bond investors.
Consumer Price Index (CPI)-based inflation, however, continued to exceed the Reserve Bank of India’s (RBI’s) target range of 2-6%. A Mint poll of 18 economists estimated retail inflation to slow to 7% in August.
Food inflation, measured by the Consumer Food Price Index, which accounts for nearly half of the overall consumer price basket, slowed to 9.94% in August from 11.51% in July, according to data released by the Ministry of Statistics and Programme Implementation (MoSPI) on Tuesday. (Read More)
Sensex Today Live | Share Market Updates: Wall Street ends lower on Tuesday on weak Oracle forecast, jitters about high oil prices
Wall Street stocks ended lower on Tuesday as surging oil prices deepened worries about persistent price pressures ahead of crucial inflation readings this week, while Oracle slumped after a downbeat forecast.
Oracle shares tumbled to their lowest since June after the cloud-services provider forecast current-quarter revenue below targets and narrowly missed first-quarter expectations.
Cloud-computing heavyweights Amazon.com and Microsoft also fell, pressured by Oracle’s weak forecast and by a rise in U.S. Treasury yields.
Oil prices jumped more than 1%, building on a recent rally and stoking worries that sticky inflation could mean U.S. interest rates stay higher longer in the aftermath of strong economic data.
the S&P 500 lost 25.52 points, or 0.57%, to end at 4,461.94 points, while the Nasdaq Composite lost 144.28 points, or 1.04%, to 13,773.62. The Dow Jones Industrial Average fell 14.37 points, or 0.04%, to 34,649.35. (Reuters)
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