Share market news today | Sensex, Nifty, LIVE Stock Quotes: Domestic stock markets started Tuesday’s session in the red, falling 330 points or 0.60% to hover above the 52,500 levels while the Nifty 50 index fell nearly 100 points or 0, 62% to move around 15,650. Bank Nifty was down 0.80% at 33,150 while India VIX was down with losses but still above 22 levels. Bharti Airtel was the first to gain shares on Sensex, up 1.2%, followed by Power Grid, Mahindra & Mahindra and NTPC. Asian Paints fell 2.4% as the worst performer, along with Asian Paints, Tech Mahindra and IndusInd Bank.
The sharp rise in prices eased in May as retail price inflation hit 7.04%, down from an 8-year high of 7.79%. However, inflation based on the Consumer Price Index (CPI) was still well above the Reserve Bank of India’s 2-6% tolerance range. “Retail inflation in India eased slightly to 7.04% in May from an eight-year high of 7.79% in April, helped by a favorable base,” Care Ratings said. “Food remains the main driving force with a contribution of almost 50% to total inflation. At 7.84% in May, food inflation has moderated from 8.1% last month,” they added. RBI’s MPC has so far announced two rate hikes in an attempt to tame inflation. The central bank is expected to opt for another rate hike at the next policy meeting. However, US inflation has hit a new 40-year high, which may prompt the US Fed to take more aggressive rate hikes.
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