Indian stock markets fall with rising prices

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India’s stock markets remain volatile and were lower again on Thursday morning. Today’s decline was mainly due to high inflation in the country.

The Nifty was at 17,057.90 points at 9.42 am, up 65.70 points or 0.38 per cent, while the Sensex was at 57,372.97 points, up 252.94 points or 0.44 per cent.

Retail inflation in India rose to 7.41 percent in September and has now exceeded the Reserve Bank of India’s 2-6 percent target range for nine consecutive months. Retail inflation was 7% in August.

If CPI-based inflation is outside the 2-6 percent range for three consecutive quarters, the flexible inflation targeting framework considers that the RBI has failed to control price increases.

The rupee appeared to have stabilized as traders awaited a possible liquidity management measure by the RBI to support the weakening rupee. The RBI typically intervenes in the market by managing liquidity, which may include selling dollars.

At 9:46 am on Thursday morning, the rupee strengthened slightly from the previous day’s close trading to $82.288. For further clues, investors await US inflation data for September, which will be released later today.

Talking about rising stocks today, stocks of many companies including HCL Tech, Mahindra, Sun Pharma, Dr Reddy, Maruti Suzuki, NTPC, Axis Bank, Power Grid, ITC are rising.

On the other hand, if we look at falling stocks, many companies like HDFC, TCS, Bajaj Finserv, HDFC Bank, Bajaj Finance, Larsen, Asian Paints will see their share price fall.

Wednesday (October 12): The Sensex closed at 57,625 points, up 478 points. The Nifty gained 140 points to close at 17,123.

Tuesday (October 11): The Sensex closed 843 points higher at 57,147 points, while the Nifty closed at 16,983 points down by around 257 points.

Monday (October 10): The Sensex closed down 200 points at 57,991, while the Nifty shed 73 points to close at 17,241. Friday (October 7): The Sensex closed down 306 points at 58,191 points, while the Nifty closed at 17,314 points, a loss of 17 points.



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