Indian equities opened strongly on the back of positive global cues.
IT, FMCG and oil & gas stocks gained ground. BSE Midcap and Smallcap index rose more than 2% each.
The US Federal Reserve slashed bank rates by 50 basis points on Wednesday (Oct 29), and many other central banking institutions are likely to follow suit sooner than later.
The inflationary figures declined to 10.68% for the week ended October 18, as compared with 11.07 per cent for the previous week. The annual rate of inflation was 3.11 per cent in the corresponding period a year ago.