#NIFTY50 CLOSING BELL: 14th October, 2014 #Nifty closed slightly negative at 7864.00 (-20.25 or -0.26%) post strong WPI number. #Bank Nifty closed positive at 15751.55 (+74.05 points or +0.47%). #NiftyGainers: #DLF, #BPCL, #Carin, #HCLTech & #TataMotors #NiftyLosers: #BHEL, #BajajAuto, #AxisBank, #IndusindBank & #TataPower #MajorEconomicMovements: #SeptWPIinflation falls to 5-year low of 2.38% #WholesalePrice Index (WPI)-based inflation declined to its lowest level in five years at 2.38% in September from 3.74% in the previous month due to abatement in rise of food prices, low demand for industrial goods and fall in global crude prices, official data showed today. The data came in a day after the government numbers showed that the Consumer Price Index (CPI) inflation fell to its lowest ever of 6.46 per cent. Since WPI is a lead indicator for CPI, the retail price inflation might decline further. However, the festival season of October and November might come in the way for the time being. Reserve Bank of India, therefore, might wait a bit before deciding on a cut in the key policy rate, as its target of reining in CPI inflation at 6% by January, 2016 may face some upside risks, going forward. Its January 2015 target of keeping inflation at 7% has already been met. #NiftyClosing #MarketNews #Dreamgains
Posted on: Tue, 14 Oct 2014 10:50:03 +0000
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