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Indian shares on track for muted open as inflation strengthens rate-hike concerns
Indian equities were poised for a muted open on Tuesday as investors monitored Middle East tensions and elevated crude oil prices, while a faster-than-expected rise in retail inflation strengthened the case for further interest rate hikes. GIFT Nifty futures were at 22,423.5 at 7:50 a.m. IST, indicating a muted start for the Nifty 50, which closed at 22,363.35 on Monday. India’s retail inflation accelerated to a higher-than-expected 5.54% in September, data showed on Monday, edging close to the central bank’s 6% upper tolerance band and bolstering the case for further rate hikes as the Ira...
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