The S&P BSE Sensex is trading at 26,565 up 261 points, while NSE Nifty is trading at 8,193 up 84 points.
Asian markets traded in the green on opening bell taking cues from the US indices which hit new all time highs. The return of the risk on trade seems imminent with money now entering the developed markets with US, Germany & Japan set to outperform in the near term.With strong expectation of huge infra spend on the anvil the US indices seem set to move higher as higher bond yields coupled with $ strength indicate bullish momentum.
The Indian rupee opened higer by six paise at 67.68/$ against Tuesday close at as against the previous close of 67.74/$.
The Union cabinet on Tuesday approved a modest 6.6% hike in the minimum support price (MSP) of wheat.
On the economy front, India’s retail price inflation fell to a 14-month low of 4.2% in October from 4.39% a month ago as inflation in fruits and pulses softened, raising the chances of an interest rate cut by the central bank.
India's trade deficit widened to $10.16 billion in October from $8.34 billion in the previous month, as gold imports more than doubled to $3.5 billion from a year ago. Merchandise exports grew 9.6% year-on-year to $23.5 billion, while imports expanded 8.11% year-on-year to $33.67 billion, the data showed.
Asian markets traded in the green on opening bell taking cues from the US indices which hit new all time highs. The return of the risk on trade seems imminent with money now entering the developed markets with US, Germany & Japan set to outperform in the near term.With strong expectation of huge infra spend on the anvil the US indices seem set to move higher as higher bond yields coupled with $ strength indicate bullish momentum.
The Indian rupee opened higer by six paise at 67.68/$ against Tuesday close at as against the previous close of 67.74/$.
The Union cabinet on Tuesday approved a modest 6.6% hike in the minimum support price (MSP) of wheat.
On the economy front, India’s retail price inflation fell to a 14-month low of 4.2% in October from 4.39% a month ago as inflation in fruits and pulses softened, raising the chances of an interest rate cut by the central bank.
India's trade deficit widened to $10.16 billion in October from $8.34 billion in the previous month, as gold imports more than doubled to $3.5 billion from a year ago. Merchandise exports grew 9.6% year-on-year to $23.5 billion, while imports expanded 8.11% year-on-year to $33.67 billion, the data showed.
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