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Below the Quote on Market Wrap Up by Shrikant Chouhan, Head Equity Research, Kotak Securities Ltd

“Oil prices rose on Wednesday amid expectations of higher demand due to a weaker U.S. dollar and a report showing declines in U.S. crude and gasoline inventories. Additionally, the release of inflation data could indicate a more supportive economic outlook. On Tuesday, the U.S. Core Producer Price Index (PPI) increased by 0.5% month-over-month, while the overall PPI also rose by 0.5%, surpassing the forecast of 0.3%. Federal Reserve Chair Jerome Powell reaffirmed that the slowdown in inflation is progressing slower than anticipated, leading the Fed to maintain its current stance for an extended period. India's trade deficit in April was $19.1 billion, compared to $15.6 billion in March. Later today, investors will be closely watching the U.S. release of April CPI data, expected to show a 0.4% month-over-month increase, with core inflation anticipated at 3.6% year-over-year.”

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