Share Market LIVE: Nifty, Sensex likely to open higher, hints SGX Nifty; CPI inflation spikes to 7% in Aug

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Share Market News Today | Sensex, Nifty, Share Prices LIVE: Indian benchmark indices are likely to open in the green as trends in the SGX Nifty indicate a gap-up opening with a gain of 114 points.

Share Market News Today | Sensex, Nifty, Share Prices LIVE: Indian benchmark indices are likely to open in the green as trends in the SGX Nifty indicate a gap-up opening with a gain of 114 points. In the previous session, the BSE Sensex closed above 60,000 mark for the first time since August 18, while its broader peer NSE Nifty 50 rose 103 points to 17,936, just shy of 18000. Global cues were positive as Wall Street equity indexes closed higher on Monday and markets in Asia-Pacific were trading higher today as investors bet that August data would show easing inflation in the US. News of Ukraine making some progress against Russia in a war that has hurt the global economy also boosted investor sentiments.

After declining for three months, retail inflation rose to 7% in August due to higher food prices which may prompt the Reserve Bank of India to go for another rate hike later this month in order to tame price rise. The Consumer Price Index (CPI) based inflation, which is factored in by RBI while deciding the monetary policy, has remained above the central bank’s comfort level of 6% for eight months in a row. Retail food inflation accelerated to 7.6% last month, up from 6.7% in July, driven by a jump in the prices of cereals, vegetables, pulses and milk & milk products. Inflation in food and beverages rose to 7.57%, because of a spike in prices of cereals, and some of the key vegetables and fruits.

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Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Live Updates 13 September 2022

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