Sensex, Nifty Rise On Upbeat Inflation, Industrial Output Data
(RTTNews) - Indian shares rose notably on Tuesday as positive macro data offset mixed cues from global markets.
Sentiment was underpinned after data showed India's retail inflation softened to a three-month low of 5.1 percent in January on moderating food price growth.
Separate data revealed that India's industrial output rose at a faster-than-expected pace of 3.8 percent year-on-year in December after easing sharply in the previous month.
Global cues were mixed, while the dollar and bond yields were unchanged as investors awaited U.S. CPI data due later in the day, expected to show a further slowing of price pressures.
The Labour Department's CPI report may show a further slowing of price pressures, with the annual increase in inflation expected to fall below 3 percent for the first time since 2021.
The benchmark S&P BSE Sensex ended the session up 482.70 points, or 0.68 percent, at 71,555.19 while the broader NSE Nifty index settled 127.20 points, or 0.59 percent, higher at 21,743.25.
Banks and financials saw broad-based gains, with HDFC Life, Axis Bank and ICICI Bank all rising over 2 percent.
Coal India jumped 4.7 percent after reporting a 17 percent increase in Q3 consolidated net profit.
Hindalco slumped 12.5 percent after its subsidiary Novelis revised upward its Bay Minette project capex by 65 percent and also suggested a one-year delay.
Grasim followed suit with a 3.7 percent loss while Divis Laboratories, UltraTech Cement and BPCL all fell around 1 percent.
Swiss Market Settles Slightly Down
European Stocks Close On Mixed Note After Central Bank Decisions, Earnings Deluge
ECB Holds Interest Rates Steady Amid Uncertain Outlook
Eurozone GDP Growth Beats Expectations
Bay Street Likely To Open Weak
German Economy Stagnates On Weaker Exports; Unemployment Falls
FTSE 100 Moderately Lower; WPP Tanks On Lower Earnings, Forecast
