Sensex Rises Over 80 Points After Cooling Inflation Report
NDTV
Stock Market India: Equity benchmarks rose modestly in early trade on Tuesday on improved risk sentiment.
Indian equity benchmarks rose in early trade on Tuesday, reversing previous session's modest losses after domestic retail inflation declined to levels below the central bank's tolerance level in November, driving expectations for a slower pace of interest rate rises.
The BSE Sensex index rose 84.94 points to 62,215.51 in early trade, and the broader NSE Nifty opened slightly higher, reflecting a sea of green in other Asian indexes.
"Markets are expected to gain strength in early trades Tuesday after overnight gains in the US markets and sentiment booster inflation data that eased to 11-month low would keep investors' spirits high," said Prashanth Tapse, Senior Vice President for Research at Mehta Equities.
"Technically, Nifty's make-or-break support for the day is at yesterday's low at 18,345 mark. We suspect the trading bias could tilt in favour of the bulls as long as Nifty holds above the 18,345 mark. However, the market will watch for the US Fed meeting outcome to unfold as the policy decision on interest rates would determine the trend in the rest of the world in the near term," he added.