Markets witnessed a muted week over the budget setback after rallying last week. The Nifty ended with a weekly gain of just 0.11%, whereas Bank Nifty ended 1.10% lower.
The January wholesale inflation rose to 2.76% up from 2.59% in December on the back of a sharp rise in inflation of fuel and manufactured items.
India’s Retail inflation in January rose to a six-year high to 7.59% thanks to staggering rural inflation, which stood at 7.73% up from 7.23% a month earlier.
Index for Industrial Production (IIP) contracted 0.3% in the month of December after IIP data came in positive for the month of November for the first time in three months.