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India’s November retail inflation rises to 0.71%

Dec 12 (Reuters) – India’s annual retail inflation quickened to 0.71% year-on-year in November, picking up from a record low in October, as the pace of decline in food prices slowed, government data showed on Friday. A Reuters poll had projected retail inflation at 0.7%. The latest print was below the Reserve Bank of India’s target range of 2% to 6% for the third straight month. COMMENTARY: TERESA JOHN, LEAD ECONOMIST, NIRMAL BANG, MUMBAI “CPI inflation quickened to 0.71% in November from 0.25% in October as food inflation bottomed out, led by higher vegetable prices due to unseasonal rains. “Core

Sensex jumps nearly 450 pts on buying in metal shares, positive global trends

Mumbai, Dec 12 (PTI) Benchmark stock index Sensex rallied nearly 450 points while broader Nifty closed above 26,000 level on Friday following buying in metal shares and positive global trends. Rising for the second day, the 30-share BSE Sensex climbed 449.53 points or 0.53 per cent to settle at 85,267.66. During the day, it jumped 502.69 points or 0.59 per cent to 85,320.82. The 50-share NSE Nifty surged 148.40 points or 0.57 per cent to 26,046.95. Among Sensex firms, Tata Steel, Eternal, UltraTech Cement, Larsen & Toubro, Maruti and Bharti Airtel were the major gainers. However, Hindustan Unilever, Sun Pharma,

Rupee slumps 9 paise to close at all-time low of 90.41 against US dollar

Mumbai, Dec 12 (PTI) The rupee depreciated by 9 paise to close at an all-time low of 90.41 against the US dollar on Friday, as uncertainty over the India-US trade deal and persistent foreign fund outflows dented investor sentiment. Forex traders said the rupee is under pressure, largely due to aggressive dollar purchases by importers amid surging global precious metal prices. At the interbank foreign exchange, the rupee opened at 90.43 against the US dollar, then fell further to a record intraday low of 90.56 against the greenback, registering a fall of 24 paise from its previous close. The unit

Silver soars Rs 5,100 to hit new peak of Rs 1.99 lakh/kg in Delhi markets

New Delhi, Dec 12 (PTI) Silver prices strengthened for the third straight day and jumped Rs 5,100 to hit a new peak of Rs 1,99,500 per kilogram in the national capital on Friday, amid sustained global demand for the safe-haven asset, according to the All India Sarafa Association. The white metal closed Rs 2,400 up at Rs 1,94,400 per kilogram on Thursday, a day after surging Rs 11,500 on Wednesday. “In the domestic market, spot silver prices once again recorded a new high, while gold prices also appreciated significantly, trading near the record level,” Dilip Parmar, Research Analyst, HDFC Securities,

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