Autos, finance boost Indian shares as June retail inflation lower than expected

Sunteck Realty

13/07/2021 05:28

BENGALURU, July 13 (Reuters) - Indian shares rose on
Tuesday, led by gains in banking and auto stocks, as a
lesser-than-expected rise in June retail inflation is expected
to make the central bank keep policy rates at current levels to
support the COVID-19 ravaged economy.  
    As of 0357 GMT, the blue-chip NSE Nifty 50 index  .NSEI  and
the benchmark S&P BSE Sensex  .BSESN  were up 0.43% and 0.42% at
15,760.35 and 52,591.06 points, respectively.
    ICICI Bank's  ICBK.NS  shares rose 1.8% and HDFC Ltd
 HDFC.NS  gained 1.5%. The lenders were among the top boosts to
the Nifty Bank index  .NSEBANK  that added 0.8%. 
    The Nifty Auto index  .NIFTYAUTO  was up 0.65%, helped by
gains in Jaguar Land Rover parent Tata Motors  TAMO.NS , which
was up 0.8%.
    Global markets helped uplift sentiment as world stocks hit
record levels on Monday while investors gauged the implications
of the Delta variant of the COVID-19 coronavirus on economic
growth.  MKTS/GLOB 
    In Mumbai trading, shares of drugmaker F D C Ltd were up
3.3% after it launched an oral suspension formulation of
COVID-19 treatment favipiravir, while Sunteck Realty's  SUNT.NS 
shares jumped 6.4% after the firm reported a rise in
first-quarter pre-sales bookings.  
    India's retail inflation rose less than expected in June,
strengthening the view that the central bank could keep policy
rates at current levels to support an economy hit hard by
COVID-19. Economists said the June inflation print was above the
upper range of the central bank's 2%-6% target, but price
pressures appeared to be easing.  urn:newsml:reuters.com:*:nL1N2OO0YL

 (Reporting by Shivani Singh in Bengaluru; editing by Vinay
Dwivedi)
 ((ShivaniSingh1@thomsonreuters.com; +91 89 6969 2349))