Wholesale Price Index-based inflation for the month of October rose to 7 per
cent, the highest in current financial year in the wake of costlier food items. The inflation measured on the wholesale price index, WPI was 6.46 per cent in September this year and 7.32 per cent in October 2012.

As per the government data released today, rate of price rise in food articles segment was at 18.19 per cent in October. The jump in WPI inflation comes after the October retail inflation increased to 10.1 per cent, the highest in the past seven months. WPI inflation is on the rise since April this year. While inflation in the vegetable segment stood at 78.38 per cent in October, the rate of price rise in onion continued to remain high at 278.21 per cent.

The Sensex at the Bombay Stock Exchange rose over 295 points in afternoon trade on fresh buying activity driven by encouraging corporate earnings and a firming trend in the Asian region. The 30-share index which gained over 350 points in its previous session, surged over 295 points to 20,489 when reports last came in.

The wide-based index of the National Stock Exchange, NIFTY, moved up by 90 points, to 6,079 a short while ago.

The rupee trimmed its early gains but was still higher by 23 paise to 63 rupees 7 paise against the dollar in late morning trade today on selling of the American currency by banks and exporters amid recovery in the equity market. The rupee resumed higher at 63 rupees 15 paise as against the last closing level of 63 rupees 30 paise and firmed up further to 62 rupees 95 paise before quoting at 63 rupees 7 paise per dollar

In New York, the US dollar edged lower yesterday as investors looked ahead to the confirmation hearing for Janet
Yellen, the nominee to lead the Federal Reserve at a time when
it is likely to pull back from its stimulus.