Indian stocks start fresh week in green; August inflation data in focus

Sep 12, 2022

New Delhi, Sept 12 (ANI): Indian stocks extended their gains for the third straight session and started the fresh week in the green on September 12. Prior to last Thursday, the benchmark indices - Sensex and Nifty - fell for two sessions on the likelihood of aggressive rate hikes in the US to fight inflation as indicated by the US Federal Reserve. At 9.25 am, Sensex traded at 59,983.29 points, up 190.15 points or 0.32 per cent, whereas Nifty traded at 17,895.80 points, up 62.45 points or 0.35 per cent. “The most important bullish factor that has caused and is sustaining India's market outperformance is the strong growth recovery underway in India now,” said VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services. For fresh cues, all eyes will be on retail inflation data for August, which will be released by the National Statistical Office this evening at 5.30 pm. India's retail inflation fell to 6.71 per cent in July, the lowest level in five months, helped by an easing in food and oil prices, as per the National Statistical Office (NSO) data.