Mid-Market Update: Sensex, Nifty jump 1% each; realty, auto, financials rise (15-11-2023)

All sectoral indices were trading in the green led by realty, IT, auto, financials and metals which were up 1-2 percent each. 

Dalal Street witnessed some handsome buying on November 15 as both Sensex and Nifty added a percent each following strong global cues. At 12:46 PM, Sensex jumped over 600 points trading at 65,529 level while Nifty gained 189 points and was trading at 19,633 mark.

US Inflation Data:

Retail inflation in the US increased 3.2 percent YoY in October, beating an estimated 3.3 percent rise, amid lower gasoline prices, while underlying inflation showed signs of a slowdown.

India Inflation at 5-month low: 

India’s headline retail inflation rate moderated to 4.87 percent in October on the back of a favourable base effect and cooling prices of some items. The headline inflation has fallen below the 5-percent mark for the first time since June. With this, the retail inflation also remained within the Reserve Bank of India’s tolerance range of 2-6 percent for a second month in a row.

Asian Markets trade strong:

All Asian markets were trading in the green with Hang Seng, Nikkei and Kospi jumping 2-3 percent each while Taiwan and Jakarta added over a percent each in the afternoon session.

UK inflation rate falls to lower-than-expected in Oct:

British annual consumer price inflation (CPI) fell to a lower-than-expected 4.6 percent in October from 6.7 percent in September, official data showed on Wednesday. The increase in consumer prices was the smallest since October 2021.

The Bank of England’s staff forecasts and the consensus from a Reuters poll of economists had pointed to a reading of 4.8%. Annual core inflation fell to 5.7 percent from 6.1 percent.

Broader Markets Updates:

All sectoral indices were trading in the green led by realty, IT, auto, financials and metals which were up 1-2 percent each. 

Top Nifty 50 gainers:

Disclaimer: The information provided in this blog post is for informational purposes only and should not be construed as investment or trading advice. The author is not a financial advisor and does not have any professional qualifications in this area. The author does not guarantee the accuracy or completeness of the information provided. Any action you take based on the information in this blog post is done at your own risk. Please consult with a financial advisor before making any investment decisions.