13 May , 2022 By : monika singh
Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic markets started Friday’s session with gains. S&P BSE Sensex was up more than 550 points or nearly 1% sitting above 53,400 while NSE Nifty 50 zoomed 150 points or 0.98% to near 16,000 levels. Bank Nifty was up more than 1% while India VIX dropped 4% to slip below 24 levels. Sun Pharma was the top gainer on Sensex up 3%, followed by Tata Steel, and Titan. NTPC was the worst performer, followed by Bharti Airtel, and Larsen & Toubro.
Retail inflation soared to an 8-year high of 7.79% in April as food, fuel, and other prices continued to pinch consumers. CPI Inflation breached the RBI’s medium-term target of 2-6% for a fourth straight month in April, aided by global factors, mainly the rise in commodity prices and supply-chain disruptions in the wake of the Ukraine war. With the sharp up-move in inflation, the expectations of a rate hike by the Reserve Bank of India in June have risen, Earlier this month the RBI’s MPC announced an off-cycle 40 basis points hike in repo rate.
MSCI (Morgan Stanley Capital International) has added Adani Power, Jindal Steel & Power, AU Small Finance Bank, and Tata Elxsi to the MSCI India Index after the semi-annual review 2022. Additionally, HDFC Asset Management Company will be booted out from the index. The move is largely in line with expectations pinned by analysts earlier. According to estimates derived earlier, the addition of the stocks to MSCI Indices could result in inflows worth somewhere in the range of $367-490 million. MSCI reviews its global and domestic indices semi-annually based on various factors.Â
Consumer Price Index (CPI) inflation in April accelerated to the highest level in eight years, higher than analyst expectations indicating the 'spectre of a generalisation of inflationary pressures' which has seeped into everyday needs. Experts expect the latest reading to put pressure on the Reserve Bank of India to further raise rates as much as 50 basis points in the upcoming June MPC meeting.
Consumer Price Index (CPI) inflation in April accelerated to the highest level in eight years, higher than analyst expectations, which indicates the 'spectre of a generalisation of inflationary pressures' which has seeped into everyday needs.
Experts expect the latest reading to put pressure on the Reserve Bank of India to further raise rates as much as 50 basis points (bps) in the upcoming June monetary policy (MPC) meeting.
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