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The S&P BSE Sensex surged over 100 points in early morning trade on Thursday, led by gains in RIL, Infosys, ICICI Bank, L&T, TCS, and SBI.The Nifty50 was trading around its crucial level of 7,650, supported by gains in IT, auto, capital goods, consumer durable, metal, and realty stocks. India's retail inflation rate likely rose above the Reserve Bank of India's medium-term 5 percent target in November as food prices climbed, leaving little room for more interest rate cuts, a Reuters poll found.Consumer prices rose 5.4 percent last month, according to the survey of 21 economists, which would mark an acceleration from 5.0 percent in October. The data will be released on Dec. 14.Falling commodity prices have fueled a global disinflationary trend and pushed Indian inflation down, giving the RBI room to ease monetary policy four times this year, but rate cuts could now be less forthcoming.
The S&P BSE Sensex surged over 100 points in early morning trade on Thursday, led by gains in RIL, Infosys, ICICI Bank, L&T, TCS, and SBI.The Nifty50 was trading around its crucial level of 7,650, supported by gains in IT, auto, capital goods, consumer durable, metal, and realty stocks.
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