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The broader market index dipped 0.03%, and the Nasdaq Composite slid 0.08%. The Dow Jones Industrial Average advanced 70 points, or 0.21%.

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As a result, the Bank of England itself projects inflation to hit a peak of 13% in 2022, with some estimates even hitting 15% year on year (YoY). Cost of living is rising across the Euro area, which will only get worse with winter energy needs. Surveys indicate that people are already missing meals in order to make ends meet, with even some related suicides reported.

The 30-share Sensex advanced 59.15 points to end at 58,833.87. Its broader peer, Nifty50, ended the session comfortably above the 17,500 mark.

The Nifty Auto index closed 0.4 per cent up at 12929.15.

The rupee fell 0.1% for the week, having traded in a 20 paisa range over the period.The Financial Times reported that JPMorgan is seeking investor views on whether to make a large chunk of Indian government bond market eligible for inclusion to its widely tracked GBI-EM Global Diversified index of local currency debt.

“We expect Indian banks to build on the momentum of strong economic growth as well as resolution of legacy loans to improve their asset quality further. In fact, we have been projecting that the NPLs plus performing restructured loans put together should be below 5% by March 2024 and they could go below 3.5% by March 2025.”

The stock quoted a 52-week high price of Rs 31441.05 and a 52-week low of Rs 17900.0.

German consumer sentiment is set to hit a record low for the third month in a row in September as households brace for surging energy bills, a survey showed, while French consumer confidence unexpectedly rose in August.On Friday, miners rose as copper prices gained on hopes that fresh stimulus measures from China would boost demand.

Wood said he is surprised by stock market resilience in the face of bearish sentiment triggered by the wave of foreign selling, prevailing high valuations and monetary tightening.