At 7:25 AM, GIFT Nifty futures were trading 105 points lower at 24,543 levels, hinting at a gap-down start
As the markets prepare to open, the mood is upbeat. At 6:34 AM, the GIFT Nifty futures are trading 28 points higher at 24,762 levels, hinting at a positive start
Saurabh Garg further added that the ministry is also looking for ways to tap alternative data sources, like night lights data and e-commerce prices, for its surveys
The govt is exploring a reduction in food's weight in the Consumer Price Index to reflect changing consumption patterns and manage inflation, as food prices remain volatile and seasonally driven
Higher inflation and lower purchasing by consumers, it seems, has taken a bite out of consumption-related stocks at the bourses, with most counters losing ground in the last few months
Both Sensex and Nifty closed over 1 per cent lower on Tuesday, November 12, with the Sensex ending at 78,675.18 and the Nifty closing at 23,883.45 levels
Stock Market Today: Bears took the reins on the D-Street as 21 out of 30 constituent stocks of BSE Sensex ended in red, dragged by Bajaj Finance, Reliance Industries, and Tata Steel
At 6:33 AM, GIFT Nifty Futures were trading 30 points higher at 25,251, suggesting a higher start for Indian markets.
The policy remains open-ended on the future possibility of rate cut, which sounds reasonable given that the future course of inflation is hard to gauge
CPI-based inflation is expected to broadly align near the RBI's projection of 4.5% in 2024-25, despite perishable food price shock due to repeated weather aberrations
Why stock market, Sensex, Nifty fell after RBI policy: RBI governor Shaktikanta Das emphasised on food inflation and said food prices have remained elevated for too long
The panel, under the statistics ministry, is discussing a proposal to reduce the weight of food in the consumer price basket by as much as 8 percentage points
India, when compared to the US, has been rather boring, albeit in a good way. In contrast to the volatility in the US markets and macro data, India has been a beacon of stability
The yuan slid to a two-week low versus the dollar after US President Joe Biden unveiled steep tariff increases on an array of Chinese imports
V Anantha Nageswaran, the government's chief economic adviser, said on Wednesday the Indian economy was better placed than before to pursue 'non-inflationary' growth
As regards rate cuts, analysts expect the global central banks, especially in Asia, to follow the Fed in rate cutting cycle
After witnessing sustained moderation, cost push pressures faced by firms, the RBI said, are showing upward bias
Food and beverage recorded an inflation of 8.66 per cent vs 8.3 per cent in January 2024
Food and beverage recorded an inflation of 8.3 per cent in January 2024, compared to 8.70 per cent the previous month
Observing that headline inflation substantially eased from the elevated level seen in the summer of 2022, Das said price momentum was easing across core goods and services