“Market’s dismissal of the Hindenburg report as inconsequential is significant. The market which has been climbing all walls of worries has climbed this Hindenburg wall too, instilling confidence in retail investors and DIIs flush with money,” said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
The dip in CPI inflation in July to 3.54 per cent is positive, he added.
India’s industrial production slowed to a five-month low of 4.2 per cent in June 2024, mainly due to poor performance of the manufacturing sector, though power and mining sectors continue to perform well, as per official data released on Monday.
Global oil benchmark Brent crude declined 0.90 per cent to USD 81.56 a barrel.
The BSE benchmark ended lower by 56.99 points or 0.07 per cent at 79,648.92 on Monday.
The Nifty dipped 20.50 points or 0.08 per cent to 24,347.
