Stock Markets Soar As April’s Retail Inflation Eases

Equity benchmark indices Sensex and Nifty rose on Tuesday after retail inflation fell to an 11-month low of 4.83 percent in April.

The 30-share BSE Sensex surged 328.48 points, or 0.45 percent, to 73,104.61. During the session, it rallied 510.13 points, or 0.70 percent, to 73,286.26.

The NSE Nifty inched up 113.80 points, or 0.51 percent, to 22,217.85.

IRFC, Adani Power, Adani Enterprises, Adani Total Gas, Tata Power, Vedanta, LIC, Adani Green Energy, Jindal Steel & Power, HAL, Ambuja Cements, and IRCTC were the top gainers.

Among the laggards were Cipla, Zomato, Cholamandalam Invest, Avenue Supermarts, Godrej Consumer, Colgate-Palmolive, United Spirits, TCS, and Nestle India.

In Asian markets, Singapore, Tokyo, South Korea, Thailand, Malaysia, and Taiwan ended higher, while Hong Kong, Shanghai, and Indonesia closed lower.

European stocks were trading mixed.

On Monday, US markets concluded on a mixed note.

Brent crude lost 0.17 percent to USD 83.22 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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