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Will WPI data convince RBI for a rate cut?
Wed, 18 Jul Pre-Open

A high rate of inflation has often been the stumbling block for growth. With GDP growth falling to a 9 year low of 5.3% in last quarter, growth concerns are quite tangible. And high inflation was precisely the reason why the central bank did not go in for monetary easing.

And then there was the much awaited drop in the oil prices that reflected in wholesale price inflation (WPI) level for the month of May. Coming at 7.25%, a level much lower than expected, the WPI data is a positive surprise. It has set expectations for a dovish stance in the upcoming monetary policy review due in two weeks. The manufacturing inflation seems to have stabilized at 5%, well within central bank's comfort zone. Despite a fall in rupee, stable inflation levels for non food manufacturing (core inflation) inflation suggest global easing of prices.

However, whether the lower inflation figure will give more cushion to cut interest rates is not clear. Especially because statistics is never sacrosanct. In fact, the Government has recently revised April inflation data upwards from previously announced 7.2% to 7.5%. The current data itself seems to have conveniently missed the increase in power tariffs. We can't overlook the fact that food inflation remains high and monsoons don't exactly seem to be in a mood to oblige. Also, an impending increase in diesel prices could make things worse.

Nonetheless, the data offers a window of opportunity to balance inflationary pressures with the growth target. However, even if a rate cut follows, it will be no guarantee for a stable economy unless the Government's fiscal policies are in tune with the monetary policies of central bank.

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Stock Market Updates

Sensex Ends 441 Points Lower; Nifty Settles Below 15,000-Mark (Today's Market)

Mar 5, 2021 Closing

Indian share markets end lower with the Sensex down by 441 points and the Nifty ending down by 143 points.

GRINDWELL NORTON Share Price Down by 5%; BSE CAPITAL GOODS Index Down 1.5% (Today's Market)

Mar 5, 2021 03:30 PM

GRINDWELL NORTON share price is trading down by 5% and its current market price is Rs 950. The BSE CAPITAL GOODS is down by 1.5%. The top gainers in the BSE CAPITAL GOODS Index are V GUARD INDUSTRIES (up 3.3%) and AIA ENGINEERING (up 0.3%). The top losers is GRINDWELL NORTON (down 5.1%).

ADITYA BIRLA CAPITAL Share Price Down by 5%; BSE 500 Index Down 1.1% (Today's Market)

Mar 5, 2021 03:28 PM

ADITYA BIRLA CAPITAL share price is trading down by 5% and its current market price is Rs 131. The BSE 500 is down by 1.1%. The top gainers in the BSE 500 Index are TV18 BROADCAST (up 7.3%) and MOTILAL OSWAL (up 5.9%). The top losers are ADITYA BIRLA CAPITAL (down 5.0%) and APOLLO HOSPITALS (down 5.2%).

HAVELLS INDIA Share Price Down by 5%; BSE CONSUMER DURABLES Index Down 0.7% (Today's Market)

Mar 5, 2021 03:20 PM

HAVELLS INDIA share price is trading down by 5% and its current market price is Rs 1,163. The BSE CONSUMER DURABLES is down by 0.7%. The top gainers in the BSE CONSUMER DURABLES Index are BLUE STAR (up 1.7%) and CROMPTON GREAVES CONSUMER ELEC. (up 1.3%). The top losers is HAVELLS INDIA (down 5.1%).

BALMER LAWRIE Share Price Down by 5%; BSE 500 Index Down 1.1% (Today's Market)

Mar 5, 2021 03:18 PM

BALMER LAWRIE share price is trading down by 5% and its current market price is Rs 148. The BSE 500 is down by 1.1%. The top gainers in the BSE 500 Index are TV18 BROADCAST (up 6.8%) and MOTILAL OSWAL (up 6.1%). The top losers are BALMER LAWRIE (down 5.0%) and APOLLO HOSPITALS (down 5.5%).

TRENT Share Price Down by 5%; BSE 500 Index Down 1.3% (Today's Market)

Mar 5, 2021 03:16 PM

TRENT share price is trading down by 5% and its current market price is Rs 936. The BSE 500 is down by 1.3%. The top gainers in the BSE 500 Index are TV18 BROADCAST (up 6.6%) and MOTILAL OSWAL (up 6.1%). The top losers are TRENT (down 5.4%) and APOLLO HOSPITALS (down 5.5%).

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