Benchmark indices traded volatile giving a bullish opening for the day after the eased inflation data as October WPI eased to 3.39% from 3.57% in September as prices of food articles softened to 4.34% in the month as compared to 5.75% in the previous month which triggered the chances of a rate cut in next policy review by RBI but could not able to maintain the gains over the uncertainty of the impact of govt decision on currency demonetization. The IT sector witnessed major buying today whereas the pharma shares saw selling. Nifty closed the session to settle at 8099.
Global Markets Update:
Bank of Canada Deputy Governor Timothy Lane will speak about globalization at noon ET and market watchers will look for any hints at the central bank’s view on the U.S. election results after it held rates last month citing uncertainties.
Asian shares were mixed on Wednesday with investors awaiting remarks by Fed Chair Janet Yellen this week with market views widely expecting a rate hike in December.
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