October 15, 2019 / 4:50 AM / a month ago

Nifty, Sensex end firmer; auto stocks lead gains

A broker reacts while trading at his computer terminal at a stock brokerage firm in Mumbai, December 11, 2018. REUTERS/Francis Mascarenhas/File Photo

BENGALURU (Reuters) - Indian shares ended higher on Tuesday, led by auto sectors, as investors hoped for further rate cuts from the country’s central bank amid a rise in retail inflation during the last month.

India’s retail inflation rose close to the Reserve bank of India’s medium-term target of 4% in September for the first time in 14 months, but analysts still predict a sharp economic slowdown will prompt a sixth consecutive interest rate cut in December.

The broader NSE Nifty ended 0.77% higher at 11,428.30, while the benchmark BSE Sensex closed up 0.76% at 38506.09.

The Nifty Auto index ended 2.23% higher as Eicher Motors closed up 4.69%, while Hero Motocorp, Maruti Suzuki and Mahindra and Mahindra ended firmer between 2.4% and 2.6%.

Meanwhile, Bharti Airtel was the top loser in the Nifty, closing 2.5% weaker, followed by Infosys, which ended down 2.3%.

Reporting by Derek Francis in Bengaluru, Editing by Sherry Jacob-Phillips

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