The inflation figures for the July have come at 9.86% on a year on year basis. The consumer price inflation (CPI) slowed slightly in July helped by a drop in petrol prices at the pump, government data showed on Tuesday, but a drought in parts of the country pushed food prices higher.
BSE IT index has jumped 1.7% at 5,711. Auto, oil & gas, realty and power indices have advanced 0.2-1.4% each. However, weakness can be seen in metal indices which has dropped 0.6% at 10,266.
Infosys has jumped 2.6% to Rs 2,412 after a U.S court dismissed harassment charges filed by a U.S. employee, ending worries about a case that had recently pressured shares of the software service exporter.
Cipla, HDFC and Tata Motors have added 2-2.5% each. tata Motors has extended Friday’s 2.12% gains triggered by the company reporting strong global sales in July 2012. Reliance has advanced 0.5%, followed by Maruti Suzuki. Tata Power is up 0.4% at Rs 98 after the company said it has successfully completed an offering of 60-year debentures of Rs 1500 crore.