Sensex, Nifty ranged; Jan WPI inflation spikes to 5.25%

Epic Update RBIEpic Update RBI
Equity benchmarks continued to be rangebound in noon trade as investors look to the Federal Reserve chair’s two-day congressional testimony starting Tuesday for hints of further Fed rate hike.
The 30-share BSE Sensex was down 36.41 points at 28315.21 and the 50-share NSE Nifty fell 16.35 points to 8788.70. About 1514 shares declined against 1002 advancing shares on the BSE.
Experts expect the Nifty to reclaim 9000 after current consolidation.
WPI inflation in January spiked to 5.25 percent against 3.39 percent in previous month and also ahead of expectations of 4.16 percent. Yesterday, however, retail inflation declined to 3.17 percent against 3.41 percent due to low demand after demonetisation.

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