Mumbai: Late surge helped market recovered yesterday's losses partially. The Sensex ended up 171.15 points or 0.7 percent at 25822.99. The Nifty below 7850 ahead of September F&O expiry tomorrow. The 50-share index slipped 33.95 points or 0.4 percent at 7845.95.
About 1533 shares advanced, 1139 shares declined and 105 shares were unchanged. Lupin, M&M, Vedanta, HDFC Bank and ITC were top gainers while Tata Motors, Bharti Airtel, BHEL, Bajaj Auto and Sun Pharma.
Though the Reserve Bank of India (RBI) is expected to cut interest rates next week by a quarter percent to a four-year low, officials say concerns over prices make it likely to resist political pressure for significant easing in the coming months. In growing contrast with the government, which is desperate to accelerate a sluggish recovery, an increasingly independent RBI under governor Raghuram Rajan remains focused on a long-term inflation target of 4 percent and ending decades of damaging price volatility.
"The inflation outlook is still uncertain, and that is why the governor wants to be cautious," said one official familiar with the RBI's thinking.
:France's CAC, Germany's DAX and Britain's FTSE gained 1 percent each amid renewed fears over the health of the Chinese economy and continued fallout from the Volkswagen emissions scandal. In Asia, equities slid deeper into the red today, after a preliminary reading of activity in China's mammoth manufacturing sector fell to a six-and-a-half-year low of 47.0 in September, rekindling worries over the world's second-largest economy.
GDP growth: India does not need further fiscal stimulus to revive the economy, despite GDP growth seen at the lower end of an 8.1 percent to 8.5 percent target in the current financial year, the government's chief economic adviser Arvind Subramanian said today.
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