Key benchmark indices crawled higher on Tuesday. Gains were capped as surge in domestic inflation numbers dashed hopes of further monetary easing by the central bank. The broader market, however, ended firm amid positive global cues. India’s inflation,based on monthly Wholesale Price Index (WPI), increased by 2.59% year-on-year in December 2019, accelerating from 0.58% in November and 3.46% in December 2018.
Global Markets
SoftBank-backed Oyo Hotels and Homes is laying off hundreds of employees in India, according to a source and an internal memo seen by Reuters, European shares treaded water on Tuesday, as investors awaited the signing of an initial trade truce to end a prolonged U.S.-China tariff dispute, with attention also turning to the fourth-quarter corporate earnings season.STOXX 600 index (STOXX)fell 0.2%.
Nifty Chart
Nifty Outlook
Nifty50 closed higher at 12362.30 level, +32.75 points, or 0.27 per cent. Nifty Support : 12320 and 12280 Resistance : 12380 and 12400.
