After opening the day in the green, stock markets in India have continued their momentum and are presently trading on a positive note. Sectoral indices are trading on a positive note with stocks in the IT sector, realty sector and energy sector witnessing maximum buying interest.

The BSE Sensex is trading up 242 points (up 0.6%) and the NSE Nifty is trading up 81 points (up 0.7%). Both, the BSE Mid Cap index and the BSE Small Cap index, are trading up by 0.3%.

The rupee is trading at 69.88 to the US$.

Page Industries share price and Vakrangee share price are in focus today on the announcement that Page Industries will replace Vakrangee in the MSCI India Index.

As per the news, the replacement will take effect as of the close of August 31.

The above development led Vakrangee witness selling pressure, and accordingly, the scrip of the company fell around 10% on the BSE.

In the news from macroeconomic space, data released by the Central Statistics Office showed Wholesale Price Index (WPI) dipped to 5.09% in July, cooling off from 4-year highs seen in June.

Market participants expect that if the August print for retail inflation too comes at around 4% or below, there is an expectation that the monetary policy committee (MPC) will not be in a hurry to go for another rate hike in the October policy review. This comes as a good news for the Indian economy on the inflation front as retail inflation in July also came in at a nine-month low of 4.17%.

How this pans out in the coming months remains to be seen. Meanwhile, we will keep you updated on all the developments from this space.

In the news from currency markets, extending its fall seen yesterday, the Indian rupee today breached the 70-mark and hit a new low of 70.08 for the first time against the US dollar.

Yesterday, the domestic currency had recorded its biggest intra-day fall in five years amid a global currency crisis and concerns over the risk of contagion from Turkey’s financial-market turmoil.