According to data provided by the National Statistical Office on Thursday, consumer price inflation in India, which is based on the Consumer Price Index (CPI), dropped to a three-month low of 5.02% in September after remaining above the 6% threshold for two consecutive months. The consecutive drop in the price of vegetables, especially tomatoes, and…
According to the S&P Global Purchasing Managers’ Index (PMI), India’s manufacturing activity climbed at the slowest rate in five months in September, but it remained strong, with strong demand lifting business confidence to its highest level this year, despite heightened inflationary pressures. S&P Global’s Manufacturing Purchasing Managers’ Index (PMI) was 57.5 in September as opposed…
According to an announcement from the Ministry of Commerce and Industry, the wholesale price-based inflation rate was (-)1.36% in July 2023 compared to (-)4.12% in June 2023. The costs of mineral oils, basic metals, chemicals, and chemical products, textiles, and food items have all decreased since July 2023, according to the report. For the fourth…
Due to the rebound in the dollar index and a drop in Asian rivals, the Indian rupee is anticipated to open weaker on Tuesday. The rupee is expected to open Monday at approximately 82.85 to the dollar, down from 82.7425 on Monday, according to non-deliverable forwards. Following the release of the U.S. jobs report, the…
Due to the dollar’s appreciation against other major currencies and persistent demand for the dollar from public sector banks acting on behalf of customers of oil marketing companies, the rupee (INR) fell on Tuesday, breaching the critical 82 level. The Indian rupee, which hit a two-week low, decreased 24 paise from the previous close of…
According to an RBI assessment, persistently high inflation remains a key policy worry for the Reserve Bank, which has raised rates aggressively this year, but the pressure may subside next fiscal assuming normal rains and the continued normalization of global supply chains without any exogenous shocks. The Reserve Bank of India (RBI) anticipates retail inflation…
The Reserve Bank of India on Friday raised the repo rate by 50 basis points, the third straight increase since May in an effort to cool rigid high inflation and defend the rupee. The repurchase rate was raised by 50 basis points to lift the interest rate to the pre-pandemic level. The 5.40% repo rate was last…
Oil edged up on Wednesday, a day after prices fell through $100 a barrel for the first time since April, but gains were limited by caution ahead of U.S. inflation data that could weaken the market. Brent crude futures were up 45 cents, or 0.5 percent, at $99.97 a barrel. U.S. West Texas Intermediate crude…
The RBI’s policy decision would be the major event driving trading sentiment in the equity market this week, while global cues, foreign funds movement and crude oil prices will be the other key factors to watch out for, analysts said. Markets have been witnessing a rebound recently. However, the move lacks determination amid remaining challenges like…
