The BSE Sensex was trading 134 points or 0.18% higher at 73,637. Nifty50 was trading at 22,366, up 33 points or 0.15% at around 9.19 am.
The CPI is expected to have risen 0.4% in February on a monthly basis, and could heavily influence the timing of the Federal Reserve’s rate cuts.
While traders have ruled out a rate cut in the Fed’s upcoming policy meeting on March 20, they see a 55.2% probability of a 25 basis points cut in June, according to CME’s FedWatch Tool.
From the Sensex stocks, TCS, Infosys, Tech Mahindra, and HCL Tech opened higher, while ITC, SBI, NTPC, Bajaj Finance, and Bajaj Finserv opened with cuts.
Aditya Birla Capital shares rose over 6% higher after the company said it will merge with its unit Aditya Birla Finance and turn into an operating non-banking financial company from a holding company.Smallcap firm HIL rose 4% after the company acquired 100% equity of Crestia Polytech and 4 other entities for around Rs 265 crore on a cash-free and debt-free basis.
MORE TO COME…
