Stock market bounces back; banks, metals shine
Sensex was up 599.34 points, or 0.83 per cent at 73,088.33, while the Nifty was up 151.20 points or 0.69 per cent at 22,147.
Country’s Wholesale Price Index (WPI)-based inflation jumped to 5.25 per cent in January 2017 despite negative inflation in food articles, government data showed on Tuesday.
The WPI inflation had broken 3-month declining trend in December 2016 and had jumped to 3.39 per cent. It was 3.15 per cent in November 2016.
Fuel and Power index jumped by 18.14 per cent in January while manufactured products index rose 3.99 per cent. Food articles index declined by 0.56 per cent year-on year.
Advertisement
Meanwhile, Consumer Price Index (CPI) inflation has eased further to 3.17 per cent in January 2017 compared to 3.41 per cent in December 2016. The CPI number were released by the government on Monday.
The Union government, in its Economic Survey for 2016-17 on February 1, has projected retail inflation to be well below Reserve Bank of India's target of five per cent.
Tracking the news, the Sensex was trading 44 points down at 28,308 while the Nifty was trading 16 points down at , 8789 at 12.22 pm on Tuesday.
Advertisement
