Hopes Pinned On The Festive Season

Compared to its competitors, the Indian market is doing better. In the second week of October, the yield on the 10-year government bond of India decreased to nearly 7.4 per cent. Additionally, the annual wholesale inflation rate has fallen to 10.70 per cent.

In September 2022, India’s annual wholesale price inflation rate decreased from 12.41 per cent to 10.70 per cent, underestimating market expectations of 11.5 per cent. This was the lowest reading since September 2021. On a monthly basis, wholesale prices dropped more by 0.65 per cent at the end of September after a 0.58 per cent fall in August. The BSE Sensex closed higher by 1,168 points at the 57,919.97 level on Friday, October 14, recovering from the sharp selling in the last fortnight with strong support from technology shares and banks. The power ministry said it is taking initiatives for integration of non-fossil fuel energy by implementation of green energy corridors.