India's NSE index hits 28-month high

Sat May 11, 2013 4:04am EDT

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MUMBAI, May 11 (Reuters) - India's NSE index rose marginally
on Saturday to its highest level since January 2011, led by Dr.
Reddy's Laboratories Ltd, and ITC Ltd ahead
of their quarterly earnings releases next week.
    The broader NSE index rose 0.21 percent, or 12.50
points, to end at 6,107.25. The benchmark BSE index 
rose 0.20 percent, or 39.70 points, to end at 20,122.32.
    Shares in Dr. Reddy's Laboratories stock rose 3.85 percent,
while ITC ended 0.28 percent higher.
    The market was open for trade in a special session conducted
to test new software.
    Investors expect the Reserve Bank of India will continue to
cut interest rates after having lowered them by 75 basis points
this year. Key to its decision will be consumer price inflation
data due on Monday, and wholesale price inflation data on
Tuesday. 
    India's headline wholesale inflation is expected to have
risen 5.5 percent in April from a year ago, a Reuters poll
shows, marking the slowest pace since November 2009. 
 

 (Reporting by Siddesh Mayenkar and Abhishek Vishnoi; Editing by
Daniel Magnowski)
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