Share Market LIVE: SGX Nifty hints flat start for Sensex, Nifty; Inflation continues to keep RBI on its toes

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Share Market News Today | Sensex, Nifty, Share Prices LIVE: Ahead of the third trading session of the week, SGX Nifty was trading flat, suggesting a tepid start to the day’s trade.

Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic stock markets extended their downward move and ended with losses on Tuesday. S&P BSE Sensex slipped 153 points or 0.29% to settle at 52,693 while the NSE Nifty 50 fell 43 points or 0.27% to end the day’s trade at 15,732. Indian VIX was down in red, giving up 22 levels. Ahead of the third trading session of the week, SGX Nifty was trading flat, suggesting a tepid start to the day’s trade. Global cues were mixed during the early hours of trade after Wall Street saw NASDAQ gain while Dow Jones and S&P 500 fell. Asian markets were moving in the opposite directions.

While retail inflation based on the CPI fell in May, the wholesale price inflation (WPI) spiked to 15.88% in May, the highest since September 1991. The up-move in inflation has been caused by a surge in price pressure on food and fuel. In April, the WPI inflation was recorded at 15.08%. WPI has lingered in the double-digit territory for 14 months now. “The continued rise in WPI through May means the RBI has no respite on the inflation front, as wholesale price inflation hits a three-decade high,” said economists at Barclay’s. “We expect supply shortages and price increases in a number of input goods to keep domestic inflation high, setting the stage for further policy tightening by the RBI,” they added.

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