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Sensex maintains uptrend; Aug inflation contracts further

WPI inflation in August came in at negative 4.95 percent against negative 4.05 percent in July and also better than CNBC-TV18 poll of negative 4.43 percent.

12:00

TheNewsInternational Team

12:15 pm Will Fed raise rate?:

The US Federal Reserve is unlikely to raise interest rates too fast and to a high level, feels Willem Buiter, Global Chief Economist, Citi.

Global markets are watching the Fed’s move on interest rates on Thursday, as the economy continues to be on the mend.

In an interview with CNBC-TV18, Buiter says there is ample liquidity in global markets and does sees the recent downgrade of Brazil’s rating as a country specific development.

He says India is among the better placed emerging markets because it is a big beneficiary of falling commodity prices.

12:00 pm Market Check

The market remained in a positive terrain following further contraction in WPI inflation. The Sensex gained 94.15 points at 25704.36 and the Nifty rose 26.10 points to 7815.40.

The broader markets continued to outperform benchmarks with the BSE Midcap and Smallcap indices rising 1 percent and 0.7 percent, respectively. About 1448 shares have advanced against 768 shares declined on the Bombay Stock Exchange.

WPI inflation in August came in at negative 4.95 percent against negative 4.05 percent in July and also better than CNBC-TV18 poll of negative 4.43 percent.

Banking stocks gained strength on hopes of rate cut post inflation data. Axis Bank, ICICI Bank and State Bank of India jumped 1-2 percent.

11:00

Nifty inches towards 7850, Sensex steady; banks & metals up

NTPC, Tata Steel, Axis Bank, Wipro and GAIL are top gainers in the Sensex while Reliance, ONGC, Bajaj Auto, Hero MotoCorp and HDFC are among laggards in the Sensex.

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10:00

Sensex, Nifty consolidate; Midcap, Smallcap outperformRead More »

The broader markets outperformed benchmarks with the BSE Midcap and Smallcap indices rising 0.6-0.8 percent. The market breadth remained positive as about 1032 shares have advanced against 569 shares declined on the Bombay Stock Exchange.

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09:15

Sensex, Nifty flat; Tata Steel & Wipro gain; Reliance downRead More »

Tata Steel, Wipro, Sun Pharma, TCS and HUL are top gainers while ICICI Bank, Infosys, Reliance, Vedanta and HDFC are early losers.

Read More »

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