Markets end higher after CPI eases below 6% mark; Nifty 50 above 18,600; rupee dips to 82.80 against dollar4 min read . Updated: 13 Dec 2022, 04:40 PM IST
- India's consumer price index (CPI) inflation eased to an 11-month low at 5.88% in November -- merrier than what the market expected at 6.4%. This would be the first time since December last year that CPI inflation has come below RBI's upper tolerance limit of 6%.
Indian markets witnessed a bull run on Tuesday as investors take comfort from inflation data that finally eased under RBI's upper tolerance limit after the tenth consecutive month sparking hopes for a further slowdown in a repo rate hike in forthcoming policies. PSU banks continued to extend their gaining spree, while IT stocks finally halted 7-day losing streak. India's volatility index dipped over 3% as equities rose. However, the Indian rupee breached the 82.80 level against the US dollar tracking feeble Asian currencies ahead of US inflation data and the Federal Reserve's policy outcomes.
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