Indian stock indices opened marginally in the green Tuesday, extending the positive momentum from the previous session closing, primarily due to fresh buying after the latest dip.
The retail inflation in India though is in RBI's 2-6 per cent comfort level but is above the ideal 4 per cent scenario. Inflation has been a concern for many countries, including advanced economies, but India has largely managed to steer its inflation trajectory quite well.
India's retail inflation eased to 4.83 per cent in April, down from 4.85 per cent in March. However, consumer food price inflation surged to 8.70 per cent from 8.52 per cent last month, according to data from the Ministry of Statistics & Programme Implementation.
The annual rate of inflation based on all India Wholesale Price Index (WPI) numbers is 0.53 per cent (Provisional) for March 2024 (over March 2023), showed official data on Monday.
Sinha and Jasrai stated, "March 2024 retail inflation at 4.85 per cent was 10 months low and was on expected lines. Retail inflation now for 54 consecutive months and 18 quarters is higher than the RBI inflation target of 4.0 per cent. While the headline inflation is trending downwards, the
India's retail inflation declined to 4.85 per cent in March compared to 5.09 per cent in February this year, according to government data released on Friday
Indian stock indices started Monday's trade in the green and hit their fresh highs, extending positive momentum from gains it recorded in the first week of the new financial year that started on April 1.
Wholesale inflation in India, based on the Wholesale Price Index, remained in positive territory for the fourth month after remaining in the negative zone for the seventh straight month until October.
Indian stock indices extended their gains from the previous to marginally rise at the opening bell Wednesday, tracking its US peers and a relative decline in retail inflation back home.