India's wholesale price index (WPI) rose a lower-than-expected 6.87% in July from a year earlier, Banking stocks were the biggest beneficiary from inflation data as it also sparked hopes of rate cut from the Reserve Bank of India. Bank Nifty locked 1% gain.
Beaten down stocks post tepid quarterly results were leading the rally in Nifty today. Tata Motors, Ranbaxy, Tata Steel closed with hefty gains of over 2%. SBI and Bharti Airtel were exceptions in that list.
Amara Raja Batteries was the star performer of the day. India’s second largest battery manufacturer reported close to 100% jump in bottom line. MCX tips
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