Bloomberg
Published Jan 15, 2019 15:12
Updated Jan 15, 2019 16:02
India Stocks Gain as Lower Inflation Kindles Rate Cut Hopes
(Bloomberg) -- India stocks rose, joining peers across Asia, as inflation in December eased to an 18-month low, increasing the odds that the central bank may reduce rates helping revive demand and lower the cost of borrowing for companies.
The S&P BSE Sensex advanced 0.8 percent to 36,139.97 at 9:33 a.m. in Mumbai, snapping three sessions of decline. The broader NSE Nifty 50 Index climbed 0.8 percent.
Consumer prices rose 2.19 percent in December from a year earlier, in the third straight month of moderation, the Statistics Ministry said in a statement on Monday. This is the final price print before the central bank’s Monetary Policy Committee meets next month to decide on rates. Earlier, data showed factory output rose 0.5 percent in November, sharply lower than the 8.4 percent gain in the previous month.
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Written By: Bloomberg
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