Retail inflation is expected to edge up further but will cool off in the second half of the ongoing financial year 2018-19, experts say.
The benchmark Sensex managed to post gains for the fourth week in row, garnering 178.47 points to close at 35,622.14, while the broader Nifty racked up 74.03 points to end at 10,817.70.
US consumer prices rose marginally in May amid a slowdown in increases in the cost of gasoline and the underlying trend continued to suggest moderate inflation in the economy.
Retail inflation inched up to 4.87 in May on increase in prices of certain items in the food basket, as per the government data released.
Sensex trading firm in late morning deals, up 143.50 points amid sustained buying in HealthCare, IT, Teck, Capital Goods, Industrials and Energy sectors.
Sensex rose over 84 pts while the Nifty reclaimed the 10,800-mark as investors looked forward to release of key macroeconomic data due today amid a firming trend in Asia.
Rupee pared its initial gains, still trading higher by 12 paise to 67.38 against the American currency in late morning deals following sustained selling of dollar.
"...IIP (Index of Industrial Production) would be watched closely for an ongoing economic expansion."
The CPI(M) in Kerala today nominated senior leader and former minister Elamaram Kareem as its candidate from the state for the coming Rajya Sabha election.
Govt is serious about the security of Modi, Singh said, amid reports of an assassination plot by Maoists. "We are always serious about the prime minister's security.
U.P. Govt cancels Purvanchal Expressway bids
Co's Rs 1,740 Cr bid for expressway section cancelled
U.P. Govt to re-invite bids for expressway project
Settles Abraxane patent dispute with Celgene Corp
Partner Apotex may sell generic of Abraxane in U.S.
Telecom Department may clear Vodafone-Idea merger today
Dr. Reddys new drug hits legal hurdle
U.S. court issues restraint order following patent litigation over Suboxone
Company remains confident in its legal positions on this patent Court order does not include a prohibition on commercial manufacturing of the product
The court has scheduled an expedited hearing of the preliminary injunction for June 28 Ruling is expected soon thereafter
Board mulls reshuffle of top management
ICICI Prudential Life Chief Bakshi may be named ICICI bank interim