October 15, 2019 / 10:23 AM / a month ago

Indian shares end firmer; auto stocks lead gains

* NSE index ends 0.77% higher, BSE index up 0.76%

* Nifty Auto index closes up 2.23%

* Airtel falls 2.5%

BENGALURU, Oct 15 (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 index ended 0.77% higher at 11,428.30, while the benchmark BSE index 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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