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The rating agency has lowered global growth projections for both 2022 and 2023 as Russia’s invasion of Ukraine and pandemic lockdowns in China add to supply shocks and stoke inflation
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India: Retail inflation soars to 8-year high
Consumers continue to be hurt by rising food, fuel prices
Retail inflation in India has risen to an eight-year high of 7.79 per cent as consumers continue to be pinched by rising food and fuel prices.
The Indian stock market’s benchmark Sensex was trading 331.85 points higher on Friday led by good buying support in Sun Pharma, Titan Company, and Mahindra and Mahindra Limited.
The 30 stock S&P BSE Sensex was trading 331.85 points or 0.63 per cent higher at 53,262.16 points at 10.01am against its previous day’s close at 52,930.31 points.
The Sensex is trading in the positive after yesterday’s sharp drop. The Sensex had lost 1158.08 points or 2.14 per cent on Thursday.
The broader Nifty 50 of the National Stock Exchange was trading 122.40 points or 0.77 per cent higher at 15,930.40 points against its previous day’s close at 15,808 points.
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Sun Pharma witnessed good buying support. It rallied 3.01 per cent to Rs875.75.
Titan Company surged 2.72 per cent to Rs2,104.15. Mahindra and Mahindra Limited rose 2.18 per cent to Rs883.75. Hindustan Unilever climbed 2.06 per cent to Rs2,185. Larsen & Toubro rose 1.78 per cent to Rs1,551.50.
Bharti Airtel slumped 1.10 per cent to Rs698. NTPC Limited fell 0.71 per cent to Rs147.55.
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