News18» News»India»Sensex, Nifty Open Higher On Inflation Data, IT Boost
1-MIN READ

Sensex, Nifty Open Higher On Inflation Data, IT Boost

INDIA-STOCKS:Sensex, Nifty open higher on inflation data, IT boost

INDIA-STOCKS:Sensex, Nifty open higher on inflation data, IT boost

Indian shares opened higher on Tuesday, after data showed the country's annual retail inflation eased slightly in August, with gains in IT stocks also offering support.

BENGALURU: Indian shares opened higher on Tuesday, after data showed the country’s annual retail inflation eased slightly in August, with gains in IT stocks also offering support.

The blue-chip NSE Nifty 50 index rose 0.48% to 11,494.70 and the benchmark S&P BSE Sensex 0.50% to 38,950.43 by 0350 GMT.

India’s retail inflation in August of 6.69% was lower than the 6.73% recorded in July, though it remained above the upper end of the Reserve Bank of India’s (RBI) medium-term target for the fifth straight month.

In domestic trading, the Nifty IT index jumped 0.84%, with IT major Tata Consultancy Services Ltd rising as much as 1.4%.

Broader Asian markets were up on positive China industrial data and optimism around COVID-19 vaccines, with eyes on the U.S. Federal Reserve’s two-day policy meeting that starts later in the day.

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

first published:September 15, 2020, 09:45 IST