Stock Markets: Markets set new life high as inflation takes driving seat
Key indices Sensex and Nifty today made the most of the inflation numbers as they scaled fresh life highs at 30,322 and 9,445, respectively, shrugging off fears over a potential impact of a ransomware attack.
The markets also fell back on better than expected quarterly earnings, which came as a feel-good factor.
Retail inflation rate fell sharply to a multi-year low of 2.99 per cent in April and that of WPI slipped to a four-month low of 3.85 per cent, creating headroom for the Reserve Bank to act in coming months.
The 30-share barometer jumped to an all-time high of 30,322.12, up 133.97 points, or 0.44 per cent, shattering the previous record closing of 30,250.98 touched on May 11. The gauge had eased 63 points on Friday.
The Nifty stayed with the trend as well, which rebounded 44.50 points, or 0.47 per cent, to bring up a fresh life high of 9,445.40, surpassing the previous 9,422.40 hit on May 11.
The rupee hit a high note at 64.05 against the dollar, a fresh 21 month-high, which fuelled the upmove.
Over the weekend, the ransomware WannaCry hit systems in over 100 countries, including Russia and the UK, in one of the most widespread cyber attacks in …read more
