INDIA STOCKS — Indian shares flat at open as inflation strengthens rate — hike concerns
(Updates for market open) Oct 13 (Reuters) — Indian equities opened flat on Tuesday as investors monitored Middle East tensions and elevated crude oil prices, while a faster-than-expected rise in retail inflation strengthened the case for further interest rate hikes. The Nifty 50 held its ground at 22,377.05, while the BSE Sensex edged 0.05% higher to 71,957.64, as of 09:17 a.m. IST. Eight of the 16 major sectors logged gains. The broader small-caps were down 0.7%, while mid-caps were flat. India's retail inflation accelerated to a higher-than-expected 5.54% in September, data showed on Monday, edging close to the central bank's 6% upper tolerance band and bolstering the case for further rate hikes as the Iran war and a weak monsoon add to price pressures. (Reporting by Vivek Kumar M; Editing by Sherry Jacob-Phillips) ((VivekKumar.M@thomsonreuters.com;)
(Updates for market open) Oct 13 (Reuters) — Indian equities opened flat on Tuesday as investors monitored Middle East tensions and elevated crude oil prices, while a faster-than-expected rise in retail inflation strengthened the case for further interest rate hikes. m. IST. Eight of the 16 major sectors logged gains.
7%, while mid-caps were flat. 54% in September, data showed on Monday, edging close to the central bank's 6% upper tolerance band and bolstering the case for further rate hikes as the Iran war and a weak monsoon add to price pressures. com;)