Sensex, Nifty Modestly Higher As CPI Inflation Hits 6-year Low
(RTTNews) - Indian shares were modestly higher in cautious trade on Tuesday as signs of easing domestic retail inflation opened the room for more RBI rate cuts in the coming months.
India's consumer price inflation eased further in June to the lowest level in more than six years, driven by the renewed fall in food prices, official data revealed.
Consumer price inflation eased more-than-expected to 2.10 percent in June from 2.82 percent in May.
The expected rate was 2.50 percent. This was the lowest inflation rate since January 2019, when prices had fallen just below 2.0 percent.
The benchmark S&P/BSE Sensex was up 160 points, or 0.2 percent, at 82,412 in early trade while the broader NSE Nifty index edged up by 49 points, or 0.2 percent, to 25,131.
Bharti Airtel and BEL were up around 1 percent.
Sun Pharma gained more than 1 percent after it has reached a settlement with U.S.-based Incyte Corporation regarding Leqselvi, a drug used for severe hair loss. Rallis India jumped 3 percent after its Q1 profit almost doubled.
Tata Technologies rose 1.7 percent on reporting a 5 percent rise in its Q1 profit.
HCL Technologies fell nearly 3 percent after posting weaker-than-expected Q1 earnings.
Tejas Networks plunged 5.5 percent as it reported a consolidated loss of Rs 194 crore in the first quarter ended June 2025 on lower revenue.
HDB Financial Services and HDFC Life were little changed ahead of their earnings results due today.
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