Market Wrap: Sensex, Nifty end higher after hitting record highs; mid, smallcaps falter
Nifty ended higher on Thursday, July 13, amid positive global cues as June inflation prints of the US fuelled hopes that the US Fed may end its rate hike cycle after July. The US Labor Department Wednesday said the annual consumer inflation cooled in June to its lowest rate since 2021.
The key inflation gauge, the consumer price index (CPI), rose 3 per cent from a year ago in June, down from 4 per cent in May and slightly lower than analysts expected. On the other hand, India's consumer price index (CPI) inflation rose for the first time in five months to 4.81 per cent in June 2023.
Also, the rise in inflation was higher than the street's expectations of 4.58 per cent. Still, the retail inflation print was still below RBI's upper tolerance limit of 6 per cent.
Sensex closed 165 points, or 0.25 per cent, higher at 65,558.89 while the Nifty50 ended the day at 19,413.75, up 29 points, or 0.15 per cent. (More to come) Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!
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