NSE Nifty breaches 6,300 on inflation; profit-taking caps rise

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NSE Nifty breached the psychological 6,300 level, its highest intraday level since January 2 on easing inflation. NSE Nifty breached the psychological 6,300 level, its highest intraday level since January 2 on easing inflation.
SummaryRate-sensitive stocks lead gains after WPI inflation eased on lower vegetable prices.

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BSE Sensex is up 0.72 percent and the Nifty is higher 0.73 percent after gaining over 1 percent earlier in the session after December headline inflation eased to a 5-month low of 6.16 percent.

The NSE Nifty earlier breached the psychological 6,300 level, its highest intraday level since January 2 on easing inflation, but gains were capped at higher levels on profit-taking.

Rate-sensitive stocks led gains after WPI inflation eased on lower vegetable prices, increasing odds that interest rates will stay on hold on January 28 when the RBI meets next.

ICICI Bank surges 2.2 per cent, while Housing Development Finance Corporation gains 1.5 percent.

Among auto stocks, Tata Motors gains 1 per cent, while Hero MotoCorp is up 2.1 per cent.

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