Share prices get boost after buyback


<div>
	<div>
		<div>
			<div>
				The benchmark indices extended gains with the Nifty50&nbsp; closing at record high after Bharti Airtel rallied on a deal to buy the Tata conglomerate&rsquo;s consumer mobile business, while Reliance Industries surged ahead of its results later in the day.</div>
			<br />
			<div>
				Markets also got a boost after data showed inflation held steady, instead of accelerating as expected, raising tentative hopes the Reserve Bank of India (RBI) would be less hawkish about interest rates.</div>
			<br />
			<div>
				The data late on Thursday showed annual consumer price inflation rose to 3.28% in September from a year earlier, in line with August and countering expectations for a 3.6% rate. At the same time, separate data showed industrial output hitting a nine-month high.</div>
			<br />
			<div>
				Although analysts still expected the Reserve Bank of India to keep rates steady in the months ahead, but further signs of steady inflation would raise the odds of a rate cut.</div>
			<br />
			<div>
				Overseas, World stocks rose for a fourth straight day on Friday on expectations of broad-based global growth, while the dollar headed for its worst week in five as investors awaited US inflation data.</div>
		</div>
	</div>
</div>
<br />

Nifty ends at record high on negative market breadth, Sensex up 250 points

Business Standard

Nifty ends at record high on negative market breadth, Sensex up 250 points | News on Markets - Business Standard

<div>
	<strong>ICRA on CPI data</strong></div>
<div>
	&nbsp;</div>
<div>
	The staggered impact on the housing index of the CPI, of the revision in HRA of central government employees, is likely to push up housing inflation further over the coming year.&nbsp; Moreover, the pass-through of the goods and services tax (GST) to final prices of various goods and services may not be complete. Overall, we expect the CPI inflation to cross 4.0% in the ongoing quarter and exceed 4.5% in March 2018</div>

<div>
	<strong>Emkay Global on macro data</strong></div>
<div>
	&nbsp;</div>
<div>
	Aug&rsquo;17 IIP unexpectedly grew by 4.3% yoy, which was largely broad based, from a subdued growth of 0.9% in Jul&rsquo;17. The divergence in the growth estimate was largely due to unexpected growth in capital goods and consumer non-durables sector. Inventory buildup on upcoming festival season and re-stocking post the GST roll-out might have shown sharp uptick in IIP growth which might continue in Sep&rsquo;17 as well.</div>
<div>
	&nbsp;</div>
<div>
	On the other hand, CPI remained stagnant at 3.3% in Sep&rsquo;17, we were expecting the inflationary pressure to further buildup to 3.6%. Although, the headline CPI remained constant, the increase in inflationary pressure was broad based as indicated by the diffusion index. Core inflationary pressure has intensified due to impact of HRA implementation. Implementation of 7th pay commission by the states and PSU&rsquo;s is likely to increase the CPI by another 100-150bps in 18-24 months. We maintain our view of hardening inflation outlook (4.2-4.5% with an upside bias) and RBI refraining from any further rate cuts.​</div>

<div>
	<strong>Asian markets</strong><br />
	<br />
	Asian stocks held firm near a 10-year high on Friday thanks to expectations of brisk global growth. MSCI&#39;s broadest index of Asia-Pacific shares outside Japan was up 0.1% having gained 3.4% so far this month. Japan&#39;s Nikkei was little changed.</div>
<div>
	&nbsp;</div>
<div>
	Wall Street shares dipped slightly on Thursday, pulled down by a fall in AT&amp;T after the telecoms company reported subscriber losses in its cable TV business.</div>
<div>
	&nbsp;</div>
<div>
	But MSCI&rsquo;s broadest gauge of the world stocks exchanges covering 47 markets hit another record high, extending its gains so far this year to 17%.</div>

<strong>Singapore Nifty</strong><br />
<br />
At 8:40 am, SGX Nifty was trading at 10,127, up 1 point or 0.01%.

Good Morning!<br />
<br />
Welcome to Business Standard&#39;s market liveblog.

Nifty ends at record high on negative market breadth, Sensex up 250 points

All that happened in Friday's trade