Sensex, Nifty open moderately higher on low consumer inflation

Benchmark indices start marginally higher Consumer inflation dipped to a five-year low of 2.12% in May, raising hopes that this will give room to the Reserve Bank of India to cut rates. The gains were however capped as April IIP remained sluggish at 3.1% due to poor show by manufacturing, mining sectors.The sentiment also remained cautious ahead of the US Federal Reserve’s two-day policy meeting that kicks off later today where they are widely expected to hike the policy rate this time. At 9:17 am, the S&P BSE Sensex was trading at 31,139, up 44 points, while the broader Nifty50 was ruling at 9,632, up 15 points. The broader market outperformed benchmark indices with S&P BSE Midcap up 0.4% while the S&P BSE Smallcap up 0.5%. Commodity Trading Tips