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Inflation in negative zone. Markets move up postively

inflationThe inflation data for May has come to be at -2.36%. The inflation figures have been in the negative zone since November last year. Markets have cheered the easing inflation and both Sensex and Nifty are holding high in the trades today.

The Wholesale Price Index (WPI) has come to -2.36% compared to May 2014. It was -2.6% in the last month. The WPI prices have been due to the fall in Food articles inflation (3.8% vs 5.73% on a month-on-month basis, Manufactured products inflation (-0.64% V/s -0.52% on a month-on-month basis) and Primary articles inflation (-0.77% V/s -0.25% on a month-on-month basis).

 

Markets trade firmly

Meanwhile markets have continued to trade steadily in the trade on Monday. The BSE Sensex has seen a rising or 255 points or +0.97% to stand at 26680.65 while the NSE Nifty has seen a surge of 61.95 points or 0.78% to stand at 8044.85. During the last week, the Nifty had seen a decline below the crucial 8000 levels.

Idea cellular is the top gainer on the index. The stock is up by 3%. Cairn India has also seen an upmove of 3.8% on the news of merger with the Vedanta group.

Market heavyweights HDFC, Reliance and ICICI Bank have all seen trades in the positive side. HDFC has moved up by 2%.

On the losing side, however Power Grid Corporation of India has been the top laggard. The stock is down by 2.9%. Bank of Baroda, ACC, Hindalco and Indus Ind Bank are the other losers on the index.


 

 

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