Domestic equity indices are closed on Thursday on account of Ganesh Chaturthi. Asian shares, which are open today, won a reprieve as news that the Trump administration has reached out to China for a new round of trade talks raised hopes that a deal could be struck in the bitter tariff dispute between the world's two biggest economies. Globally, oil prices fell on Thursday, reversing some of the strong gains from the previous session, as economic concerns raised doubts about ongoing fuel demand growth.
On Wednesday, domestic stock markets registered strong gains, marking some recovery from the losses logged by the indices in the past two sessions amid a selloff across the board. BSE benchmark index Sensex rose 304 points to close at 37,717, while the broader NSE Nifty settled 82 points higher at 11,369, after the investors scooped up recently-hammered FMCG, metal and capital goods stocks amid a recovery in the rupee. The Indian rupee on Wednesday rebounded from the historic low of 72.91 to end higher by 51 paise at 72.18 against the US dollar.
Meanwhile, the key macroeconomic data was also released on Wednesday. Retail inflation cooled to a 10-month low in August on cheaper food items while industrial output expanded by 6.6 per cent in July, official data showed. Food inflation slowed to 0.29 per cent from a year earlier, against 1.37 per cent in July. Consumer Price Index (CPI) based inflation fell to 3.69 per cent in August on the back of easing prices of fruits, vegetables and other food items, as per data released by the Central Statistics Office (CSO). (With agencies inputs)