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Market trades higher on positive macro cues, Sensex up 153 points

Market trades higher on positive macro cues, Sensex up 153 points

Market trades higher on positive macro cues, Sensex up 153 points
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By CNBC-TV18 Dec 13, 2018 12:39:46 PM IST (Published)

The Indian market was trading higher on Thursday after the government on Wednesday announced positive key macroeconomic numbers.

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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.
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