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Markets firm. July Inflation figures at 9.86%

Markets continued to trade in the green with buying interest visible in IT, auto and realty shares. The Sensex is up 83 points at 17,774. Nifty has advanced 21 points at 5,387.

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.


 

 

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