Asian stock markets were largely in the negative on Tuesday.
Share Market News Today | Sensex, Nifty, Share Prices Highlights: Sensex and Nifty ended Tuesday’s trading session flat with a positive bias. However, this marked their ninth-day straight of gains. IT majors HCL Tech and Infosys were the top index gainers followed by Kotak Mahindra Bank and Reliance Industries Limited. Titan, Sun Pharma, and ICICI Bank were the top drags. Among the financials only Kotak Mahindra Bank shares ended with gains. Broader markets ended lower in the red on Tuesday.
The Consumer Price Index (CPI) inflation reached an eight-month high of 7.34% in September. “The rise in inflation was due to broad-based increases in food prices, while core inflation stayed sticky,” said Rahul Bajoria, Chief India Economist, Barclays. Along with this, the Index of Industrial Production (IIP) declined 8%, the six consecutive month of negative growth. However, analysts believe that there has been improvement in IIP data. Care Rating said that the negative growth is likely to continue in September but the degree of contraction will be sharply lower ahead of the festive season demand.
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