Mumbai Sensex gains as Indian inflation eases to 11-month low
The Mumbai Sensex has made significant gains in trading this morning (January 14th), as Indian inflation fell to an 11-month low in December.
This is according to fresh Wholesale Price Index data – the main gauge of inflation for the nation – which showed the annual rate of inflation eased to 7.18 per cent in the last month of the year from 7.24 per cent in November.
Hopes of an interest rate cut have been boosted by this news, putting pressure on the Reserve Bank of India to make changes when its policymakers meet on January 29th.
The Central Bank has not lowered interest rates since April because inflation has remained higher than seven per cent as a result of a weak rupee and rising fuel costs.
At 10:00 GMT today, the Mumbai Sensex rose by 1.2 per cent to 19906.4 points – a jump of 242.7 points.
Learn all about CFD trading platforms and the Asian markets at City Index.
Comments are closed.
‹ Back to Previous Page
From time to time, City Index Limited’s (“we”, “our”) website may contain links to other sites and/or resources provided by third parties. These links and/or resources are provided for your information only and we have no control over the contents of those materials, and in no way endorse their content. Any analysis, opinion, commentary or research-based material on our website is for information and educational purposes only and is not, in any circumstances, intended to be an offer, recommendation or solicitation to buy or sell. You should always seek independent advice as to your suitability to speculate in any related markets and your ability to assume the associated risks, if you are at all unsure. No representation or warranty is made, express or implied, that the materials on our website are complete or accurate. We are not under any obligation to update any such material.
As such, we (and/or our associated companies) will not be responsible or liable for any loss or damage incurred by you or any third party arising out of, or in connection with, any use of the information on our website (other than with regards to any duty or liability that we are unable to limit or exclude by law or under the applicable regulatory system) and any such liability is hereby expressly disclaimed.