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Indian Markets Rally on Inflation Data, Rate Cut Speculation
Indian Markets Rally on Inflation Data, Rate Cut Speculation
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BTCCSquare news:
Indian equities extended gains Wednesday afternoon as cooling inflation data fueled expectations of monetary easing. The Sensex ROSE 0.36% to 80,520.55 while the Nifty gained 0.52% to 24,614.35, building on morning momentum after July's retail inflation print hit an eight-year low.
Healthcare stocks led the charge, with Apollo Hospitals surging 7.15% to lead Nifty gainers. Broader markets outperformed, with the Midcap 100 index climbing 0.64% as advancing issues outnumbered decliners nearly 2:1 on the BSE.
The inflation surprise has traders pricing in earlier RBI rate cuts, though some financial stocks bucked the trend. IndusInd Bank fell 1.25% amid the broader rally, while Adani Ports and Axis Bank also edged lower.
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