LIVE Updates: Retail inflation eases to 5.72% in December; IIP rises 7.1% in November

India's annual retail inflation edged down from the previous month and remained within the central bank's comfort zone as the rate of food price rises continued its down trend, data released by the government showed. The latest inflation print was below the country's central bank's upper tolerance level of the 2%-6% range for the second consecutive month.

India's industrial production rose by 7.1 per cent in November 2022 after contracting in October, according to official data released on Thursday. The Index of Industrial Production (IIP) grew by 1 per cent in November 2021.

In its December monetary policy meet, RBI governor Shaktikanta Das had said that RBI would continue its fight against inflation despite the worst being "behind us".

In November, inflation figures had slowed to an 11-month low of 5.88% on back of moderating food prices and a favourable base effect.

Govt to release retail inflation numbers for December shortly

UltraTech Cement, Larsen & Toubro, HCL Technologies, Maruti, Nestle and HDFC were among the major winners.

From the sensex pack, Reliance Industries, Axis Bank, Tata Motors, Kotak Mahindra Bank, Bharti Airtel, Bajaj Finserv, Asian Paints, ICICI Bank, Tata Steel and ITC were among the major laggards.

Markets close

Sensex declines 147.47 points to end at 59,958.03; Nifty slips 37.50 points to 17,858.20

European shares rise as investors await US inflation data

European shares edged higher on Thursday amid caution ahead of US inflation data that could sway the monetary policy direction at the world's largest economy, while Logitech dropped on cutting sales outlook after quarterly miss. The pan-European STOXX 600 rose 0.3% by 0810 GMT.

Hong Kong stocks end with another gain

Hong Kong stocks finished Thursday with more gains after swinging through the day, as profit-taking offset optimism over China reopening and traders awaited the release of US inflation data. The Hang Seng Index rose 0.36 percent, or 78.05 points, to 21,514.10.

Banks, miners lift Australian shares as trade surplus widens; US CPI data in focus

Australian shares ended higher on Thursday, led by the gains in banks and miners after data showed the country's trade surplus unexpectedly widened on lower imports, while investors brace for US inflation data. The S&P/ASX 200 index rose 1.2% to close at 7,280.4, after hitting a five-week high earlier in the session.

Tokyo stocks close flat

Tokyo shares closed flat Thursday as investors awaited the release of US consumer price data while hoping for slowing US inflation and less aggressive rate hikes. The benchmark Nikkei 225 index was up just 0.01 percent, or 3.82 points, at 26,449.82 at the close, while the broader Topix index added 0.36 percent, or 6.93 points, to 1,908.18.

The 30-share BSE benchmark quoted 23.4 points lower at 60,082.10, while the Nifty traded 9 points down at 17,879.85.

Markets open

Sensex gains 44 points at 60,149; Nifty trades around 17,900

Markets at pre-open

Sensex slips 12 points at 60,094; Nifty trades around 17,850

Wall Street stocks finished higher overnight on hopes that inflation data would be favourable and suggest less aggressive rate hikes by the Fed.

In other Asian equities, the MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.5% to hover at seven-month highs.

Rate hikes

However, recent remarks from Fed officials have pointed to the central bank's need to remain aggressive on rate hikes. Last month, RBI governor Shaktikanta Das had said the Indian central bank would continue its fight against inflation despite the worst being "behind us".

India's retail inflation held steady last month, staying within the Reserve Bank of India's (RBI) comfort range of 2%-6% for a second month, a Reuters poll of economists found. The data is due later in the day at 5:30 p.m. IST.

Core CPI and headline inflation are both expected to slow down, providing optimism that the Federal Reserve will moderate the pace of its rate hikes.

The US consumer prices index (CPI) report, due on Thursday at 7:00 p.m. IST, is expected to show some moderation in December's year-on-year prices.

Indian shares are set to open higher on Thursday, in line with broader markets as investors waited with optimism for data on domestic and US inflation that could provide cues on the central banks' rate hike path.

Ports-to-energy conglomerate Adani Group on Wednesday said that it has plans to invest Rs 60,000 crore in mineral exploration, energy, agriculture, renewable energy and coal sectors.

Cabinet nod for setting up of 3 new multi-state cooperative societies

The government has also decided to establish three new national-level multi-state cooperative societies to promote organic products, seeds and exports. The national-level cooperative organic society, cooperative seed society and cooperative export society will be registered under the Multi-State Cooperative Societies (MSCS) Act, 2002.

The Union Cabinet on Wednesday announced certain key decisions at a meeting chaired by Prime Minister Narendra Modi.

Transition to electric mobility in India will happen much faster and the Tata Group will make significant investments in the sector to develop a range of products, Group chairman N Chandrasekaran said on Wednesday.

Rupee gains 18 paise to close at 81.56 against the US dollar

The rupee gained 18 paise to close at 81.56 (provisional) against the US dollar on Wednesday, driven by foreign inflows from bonds selling and overall weakness in crude oil prices. However, a muted trend in domestic equities dented investor sentiments and capped the sharp gains in the rupee, traders said. At the interbank foreign exchange market, the local unit opened at 81.73 and touched an intra-day high of 81.52 and a low of 81.82 against the greenback.

Sun Pharma, UltraTech Cement, Tata Motors, Larsen & Toubro, Tata Consultancy Services, HDFC Bank and Tata Motors were among the winners.

From the sensex pack, Bharti Airtel, Hindustan Unilever, Titan, Reliance Industries, Nestle, IndusInd Bank, Bajaj Finserv and NTPC were the major laggards.

Markets close

Sensex dips 10 points to end at 60,105; Nifty slips 18 points to 17,896

The rupee climbed to a more-than-one-month high of 81.5950 to the dollar on Wednesday, adding to its 0.7% surge in the previous session when it breached the key 82.20-82.00 levels.

European shares rise on China reopening cheer, slow pace of rate hikes

European shares edged up on Wednesday, lifted by Bayer and LVMH, while optimism over reopening in China and hopes of less aggressive US interest rate hikes aided the sentiment. The pan-regional STOXX 600 gained 0.1% by 0818 GMT.

South Korean shares end higher in longest rally since early August

South Korean shares ended higher for a sixth consecutive session on Wednesday in their longest rally since early August, led by bluechip stocks tracking overnight Wall Street gains, but caution ahead of US inflation data capped gains. The benchmark KOSPI rose 8.22 points, or 0.35%, to close at 2,359.53.

Tokyo shares close higher

Tokyo stocks closed higher Wednesday following gains on Wall Street, as investors awaited all-important US inflation data for clues on the future of Federal Reserve rate hikes. The benchmark Nikkei 225 index gained 1.03 percent, or 270.44 points, to end at 26,446.00, while the broader Topix index climbed 1.08 percent, or 20.37 points, to 1,901.25.

Miners, economic data propel Australian shares to near 1-month high

Australian shares ended at a nearly one-month high on Wednesday, as heavyweight mining stocks advanced on strong commodity prices, while domestic retail sales and inflation data indicated further room for monetary tightening. The S&P/ASX 200 index ended 0.9% higher at 7,195.30 points, their strongest level since Dec. 16, 2022.

The rupee was little changed against the dollar on Wednesday, tracking weakness in Asian markets as investors were jittery in anticipation of US inflation data, due on Thursday.

In domestic trading, IT stocks, among top gainers, climbed 0.56% after tech-heavy Nasdaq ended 1% higher overnight.

Markets open

Sensex gains 106 points at 60,009; Nifty trades around 17,850

Markets at pre-open

Sensex gains 8 points at 60,124; Nifty trades around 17,900

Wall Street stocks finished higher overnight on relief that Fed Chair Jerome Powell refrained from commenting on rate policy in a speech.

In other Asian equities, the MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.28%.

Retail inflation

Retail inflation held steady last month, staying within the Reserve Bank of India's comfort zone for a second month, a Reuters poll of economists found. The data is due on Thursday.

The US consumer prices index report on Thursday is expected to show some moderation in year-on-year prices in December.

While recent remarks from US Federal Reserve officials pointed to the central bank's need to remain aggressive on rate hikes, market participants will wait to see inflation levels at home and in the US, a key metric to determine rate expectations.

Indian shares seen inching up; CPI data in focus

Indian shares are set to open higher on Wednesday, in line with broader markets as investors waited anxiously for data on domestic and US inflation for cues on central banks' interest rate path.