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Sensex snaps losing spree, inflation data lifts sentiment

Tuesday,   14-May-2019   04:21 PM (IST)

Indian shares snapped a nine-session losing spree to end higher on Tuesday, with pharmaceutical stocks among the top boost, a day after the country’s retail inflation data brought hopes of a key interest rate cut in June. Annual retail inflation in April was 2.92%, lower than Reuters poll prediction of 2.97%, and as it remained below the central bank’s target for a ninth month. The benchmark BSE Sensex closed up 0.61% at 37,318.53, while the broader NSE Nifty ended 0.66% higher at 11,222.05. Both indexes shed over 5% in the nine sessions ended Monday. Sun Pharmaceutical Industries Ltd rebounded from the previous session’s slump to end 5.36% firmer.