Reports » India
Indian stock market daily closing report (January 14, 2013)
January 14, 2013, Monday, 11:35 GMT | 06:35 EST | 16:05 IST | 18:35 SGT
Indian Markets have reported a smart rally today on account of increased expectation of rate cut by RBI tracking decrease in wholesale price index (WPI).
According to the data given by the government the wholesale price index (WPI) increased by 7.18% YoY in December against the street expectation of 7.40%. The WPI rose 7.24% in November. This is the lowest level of increase in inflation for the last three years.
Finance Minister P Chidambaram announced today that the implementation of the General Anti-Avoidance Rules ( GAAR) will be done from financial year 2015-16. This has provided additional impetus to the markets today.
The breadth of the market was positive in todays trade.
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