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Market surges over 1% as inflation eases
The Morning Standard
|November 16, 2023
Domestic retail inflation falls to 4-month low of 4.87% in Oct, US consumer inflation cools
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DOMESTIC equity market made big gains on Wednesday as softer-than-expected inflation readings from India and the US boosted investors' sentiment.
The BSE Sensex surged 742 points, or 1.14%, to end at 65,676 while the NSE Nifty50 index rallied 232 points, or 1.19%, to shut shop at 19,676. With India's retail inflation, as measured by the Consumer Price Index (CPI), falling to a fourmonth low of 4.87% in October due to cooling prices of food items, there are expectations that the RBI would change its stance on future interest rates and go for a cut in coming months.
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