Markets advance as India's retail inflation eases in May

13 Jun 2023 , 01:07 PM

Indian stock markets are trading with gains in Tuesday’s afternoon session on the back of improved investor sentiment after positive retail inflation data for May. Domestic inflation cooled off to an over 2-year low of 4.25% in May. Food inflation and favourable base effect lent some support.

On the sectoral front, all the major sectoral indices are extending gains. Nifty Media, Realty, Pharma, and Consumer Durables are the top gainers.

At around 1.00 PM, BSE Sensex is trading 367 points higher at 63,091.36. NSE Nifty is trading with a gain of 109 points at 18,711.

Tata Consumer (+2.27%), Titan (+2.07%), and Asian Paints (+2.03%) are leading the gainers with a 2% uptick. Tata Steel (+1.78%) and Bajaj Finserv (+1.67%) are trading about 1.5% higher.

Kotak Bank (-1.19%) is trading 1% lower. SBI (-0.57%), Mahindra & Mahindra (-0.45%), HCL Tech (-0.37%), and Adani Ports (-0.35%) are trading marginally lower.

A total of 40 stocks advanced on the nifty index, while 10 stocks declined.

Globally, US equities were trading higher ahead of US inflation data due today and Fed’s policy decision to be released on Wednesday.