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Rising for the fifth straight month, retail inflation or CPI quickened to 5.61 per cent in December, mainly on costlier vegetables and cereals, limiting the headroom for the Reserve Bank to lower rate next month.
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Food inflation too rose to 6.40 per cent during the month, government data released on Tuesday showed. Retail inflation measured by the consumer price index (CPI) was at 5.41 per cent in November 2015 and 4.28 per cent in December 2014.
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Dashing hopes of recovery, industrial production contracted by 3.2 per cent in November — the lowest level in over four years — due to poor performance of manufacturing sector and a sharp decline in capital goods output.
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Equities remained under tight grip of bears as the BSE Sensex logged its sixth fall in seven days by slipping 143 points to 24,682.03 — its lowest closing in more than 19 months — ahead of key macroeconomic data and quarterly numbers of IT major TCS.
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The NSE Nifty index after cracking 7,500-mark, touched the session's low of 7,487.80. However, fag-end buying helped the gauge to recover part of the lost ground to settle 53.55 points or 0.71 per cent down at 7,510.30.
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Period survival drama "The Revenant" emerged as the big winner at the 73rd Golden Globes, scoring a hat-trick by taking home trophies for best picture drama, best actor for Leonardo DiCaprio and best director. The movie saw off competition from "Carol", "Mad Max: Fury Road", "Room", and "Spotlight".
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Gold prices retreated from two-month high by falling Rs 200 to Rs 26,250 per ten gram at the bullion market today largely in tandem with a weak trend overseas amid easing spot demand from jewellers. Silver also recorded a fall of Rs 355 to Rs 33,500 per kg due to reduced offtake by industrial units and coin makers.
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Extending losses for the second straight day, the rupee dropped further by 5 paise to settle at 66.86 per dollar today on persistent dollar demand from importers amid fall in equity market.
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Rising for the 14th straight month, car sales in the country surged by 12.87 per cent in December as customers were induced by the auto industry into buying new vehicles by offering record discounts. According to the data released by Society of Indian Automobile Manufacturers (SIAM), domestic car sales in December stood at 1,72,671 units compared with 1,52,986 units in December 2014.
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India tops 2016 outsourcing index India is the world's biggest outsourcing destination in terms of financial attractiveness and business environment, according to a study published today by a London-based global management consulting firm. A T Kearney's 2016 Global Services Location Index (GSLI) rated India as number one out of the total 55 countries analysed.
