Early Trade Sees Markets Gains As April’s Retail Inflation Eases

Equity benchmark indices rose in early trade on Tuesday, with buying in Reliance Industries, and State Bank of India, as retail inflation fell to an 11-month low of 4.83 percent in April.

According to government data released on Monday, Retail inflation fell to an 11-month low of 4.83 percent in April as prices for some kitchen products fell, while the entire food basket firmed up marginally.

The 30-share BSE Sensex soared 225.92 points to 73,002.05 in early trade. The NSE Nifty advanced 78.65 points to 22,182.70.

Jindal Steel & Power, IRFC, Canara Bank, HAL, Hero MotoCorp, Tata Power, Hindalco, and IRCTC were the top gainers.

Among the laggards were Zomato, Cipla, Avenue Supermarts, Nestle India, Asian Paints, Britannia Industries, TCS, and Axis Bank.

In Asian markets, Thailand, Malaysia, Tokyo, and Taiwan were trading higher, while Singapore, South Korea, Hong Kong, and Indonesia were trading lower.

On Monday, US markets concluded on a mixed note.

Brent crude gained 0.12 percent to USD 83.46 per barrel.

According to exchange data, Foreign Institutional Investors (FIIs) sold securities worth Rs 4,498.92 crore on Monday.

On Monday, the Sensex went up by 111.66 points or 0.15 percent to 72,776.13, while the Nifty moved 48.85 points or 0.22 percent to 22,104.05.

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