Mumbai, Aug 13
The Indian stock market settled in green on Wednesday after the consumer price index (CPI) decreased to an eight-year low, amid strong buying in midcap stocks.
India’s inflation rate based on CPI eased further to 1.55 per cent in July this year amid a decline in food prices. This is the lowest level of year-on-year retail inflation since June 2017.
Nifty closed 24,619.35, up 131.95 points or 0.54 per cent
Despite uncertainties around Trump’s trade stance and global risks, India’s growth-inflation dynamics remain favourable for FY26, with the risk of a marginal downgrade based on tariff updates. India looks forward to the Trump-Putin meeting dated 15th August, he added.
BEL, Eternal, Mahindra and Mahindra, Kotak Bank, Power Grid, Tata Motors, Bharti Airtel, Bajaj Finance, Sun Pharma, Asian Paint, and Trent were among the top gainers from the Sensex pack. While ITC, Ultratech Cement, and Titan ended the session in negative territory.
Rupee traded strongly at 87.51, up 0.23 paise, on optimism over possible positive developments in the Russia-Ukraine conflict as US President Trump and Russian President Putin are set to meet on August 15, said Jateen Trivedi of LKP Securities.
Softer CPI data in both India and the US also aided sentiment. The rupee is expected to trade in a range of 87.25–88.00, Trivedi added.