Costlier food items pushed up wholesale inflation to an eight-month high of 7 percent in October. Wholesale price index based inflation was 6.46 per cent in September this year, and 7.32 per cent in October last year. As per government data released today, the rate of price rise in the food articles segment was 18.19 per cent in October. Inflation in the vegetables segment was 78.38 per cent in October, while inflation in onions was 278 per cent. Eggs, meat and fish became dearer by 17.47 per cent in October. Inflation in cereals and rice moderated slightly, but inflation in wheat rose to 7.88 per cent. Inflation in manufactured products inched up to 2.5 per cent, against 2.03 per cent in September. Inflation in the fuel and power segment rose marginally to 10.33 per cent.

Also, WPI inflation for August has been revised upwards to 6.99 per cent, from the earlier estimate of 6.1 per cent.

Snapping a seven-day losing streak, the Sensex at the Bombay Stock Exchange gained 205 points, or 1 percent, to close at 20,399, today, after the Reserve Bank announced fresh steps to boost liquidity in the banking system, and on fresh hopes that US Federal Reserve will maintain its economic stimulus. The Nifty at the National Stock Exchange rose 67 points, or 1.1 percent, to 6,056.

Stock markets in Japan, China, Hong Kong, South Korea and Singapore advanced between 0.2 percent and 2.1 percent.