The Indian market was trading higher on Thursday after the government on Wednesday announced positive key macroeconomic numbers.
Recommended ArticlesView All
No need for customers to visit bank branches for re-KYC — Check RBI rule and process here
IST2 Min(s) Read
Residents now allowed to hedge gold price risk on recognised exchanges in IFSC — Who will benefit?
IST2 Min(s) Read
At 11:45 AM, the NSE Nifty was trading 47 points higher at 10,784 points while the BSE Sensex was trading 153 points higher at 35,932 points.
The Index of Industrial Production (IIP) rose 8.1 percent in October as against 4.5 percent in September while The consumer price index (CPI) inflation rate for November fell to a one-and-half year low of 2.33 percent against October’s 3.77 percent.
The drop in inflation should increase the chances of new RBI governor Shaktikanta Das keeping interest rates on hold at his first policy meeting in February.
At 11:45 AM, Yes Bank was gaining a percent, ahead of the key board meeting later in the day. The search committee is likely to shortlist three candidates for the CEO post.
State Bank of India rose as much as 2 percent and was among the top Nifty gainers. HPCL, Grasim, Tata Motors and Indiabulls Housing were among the other top gainers.
Sun Pharma lost nearly 2 percent after Sebi said it has received a whistleblower complaint against the company. as of 11:45 AM, Cipla, TCS, UPL and Coal India were among the top five Nifty losers.
On the global front, Asian equity markets surged on signs of easing Sino-US trade tensions and expectations that China will step up efforts soon to support its cooling economy.