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Market LIVE: SGX Nifty up 118 pts, Sensex, Nifty to open higher; IIP grows 29.3% in May, CPI eases in June

SGX Nifty hinted at a higher opening for Sensex and Nifty, surging 118.50 points to 15,806.50 on Singaporean Exchange

Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity market benchmarks BSE Sensex and Nifty 50 are set to open higher on Monday. SGX Nifty hinted at a higher opening for Sensex and Nifty, surging 118.50 points to 15,806.50 on Singaporean Exchange. Market participants will first react to IIP and CPI inflation data, that were released post-market hours. In the previous session, the 30-share index ended at 52,373, while the Nifty 50 settled below 15,700. Asian stock markets were trading higher in early trade, with Japan’s Nikkei 225 gaining 0.75 per cent while the Topix index advanced 0.72 per cent. South Korea’s Kospi climbed 0.6 per cent. In overnight trade on Wall Street, US stock indices closed at their highest levels ever.The Dow Jones Industrial Average rose 0.36 per cent, the S&P 500 gained 0.35 per cent, while the Nasdaq Composite climbed 0.21 per cent.

The index of industrial production (IIP) grew 29.3 per cent on-year in May, driven mainly by a favourable base. While retail inflation unexpectedly dropped in June to 6.26 per cent from a six-month high of 6.30 per cent in May but still stayed above the Reserve Bank of India’s (RBI’s) tolerance level for a second straight month, as price pressure remains elevated across food and fuel segments. The country’s factory output witnessed a growth of 29.3 per cent on-year to 116.6 during the month of May.

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