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India’s annual wholesale inflation inches up to (-)3.81 percent

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New Delhi:  India’s annual rate of inflation, based on wholesale prices, inched up to (-)3.81 percent for October from (-)4.54 percent for the month before, mainly on account of a whopping 86 percent spike in the prices of onions and 53 percent in pulses over the past year.

According to the data on official wholesale prices index released by the commerce and industry ministry, the indices for both the major groups of primary articles and manufactured products registered a decline of 0.36 percent and 1.67 percent, respectively, during the month under review.

The index for the sub-category of food articles, though, was up 2.44 percent during the year. In the past month alone, prices for urad dal rose 17 percent, arhar 12 percent, gram 7 percent and moong 6 percent.

(IANS)

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Hike in Oil Price, Inflationary Fears Subdue Indian Equity Indices

The index toppers were Yes Bank, Vedanta, Tata Motors, NTPC and Mahindra & Mahindra.

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High crude oil prices and fears of a rise in core inflation subdued the key Indian equity indices on Friday.

According to market observes, crude oil at $67 per barrel and caution over a likely rise in core inflation pointed out in the Reserve Bank of India (RBI)’s latest minutes of the monetary policy committee meet kept investors away.

The S&P BSE Sensex closed 26.87 points or 0.07 per cent lower at 35,871.48, while the broader NSE Nifty50 ended flat at 10,791.65.

crude oil, equity, inflationary
The S&P BSE Sensex closed 26.87 points or 0.07 per cent lower at 35,871.48, while the broader NSE Nifty50 ended flat at 10,791.65. VOA

“Market turned range-bound after the release of RBI minutes which hints at elevated core inflation and threat of global growth slowdown,” said Vinod Nair, Head of Research, Geojit Financial Services.

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“Inflow of domestic funds to market remains positive, while tepid reaction from FIIs and lack of major triggers are impacting investors’ sentiments.”

The index toppers were Yes Bank, Vedanta, Tata Motors, NTPC and Mahindra & Mahindra, and the laggards were Kotak Mahindra Bank, HDFC Bank, Reliance Industries, IndusInd Bank and Bajaj Finance. (IANS)

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