Mumbai, Oct 16 (IANS) Better-than-expected macroeconomic data boosted investors’ sentiment, which helped key Indian equity indices to touch a record high on Monday.
The 30-scrip Sensitive Index (Sensex) was trading 122.17 points or 0.38 per cent higher during the afternoon trade.
The wider 50-scrip Nifty of the National Stock Exchange (NSE) was also trading 39.45 points or 0.39 per cent higher at 10,206.90 points.
The Sensex of the BSE, which opened at 32,488.23 points, was trading at 32,554.86 points (at 1.54 p.m.), higher 122.17 points or 0.38 per cent from Friday’s close at 32,432.69 points.
The Sensex touched a high of 32,687.32 points and a low of 32,445.43 points in the trade so far.
“India’s benchmark Sensex and Nifty indices on Monday hit an all-time high after better-than-expected macroeconomic data boosted investor confidence. BSE Sensex rose 192.38 points, or 0.59 per cent, to 32,625.07, while the Nifty 50 gained 64.35 points, or 0.63 per cent, to 1″,231.80,” Dhruv Desai, Director and Chief Operating Officer of Tradebulls, told IANS.
Cooling of food prices helped ease India’s annual rate of inflation based on the Wholesale Price Index (WPI) in September to 2.6 per cent, official data showed on Monday.
According to data released by the Commerce Ministry, the WPI, with the revised base year of 2011-12, eased from 3.24 per cent in August. The wholesale inflation rate was at 1.36 per cent during Sepetember 2016.
“The rate of inflation based on WPI Food Index consisting of ‘Food Articles’ from Primary Articles group and ‘Food Product’ from Manufactured Products group decreased from 4.41 per cent in August to 1.99 per cent in September,” the statement said.
Post Source: Ians feed