Sensex, Nifty End Higher After Inflation Data; Small, Mid-caps Add To Gains

BENGALURU: Indian shares closed higher on Tuesday after data showed annual retail inflation eased more than expected in August, while small- and mid-cap stocks extended gains from the previous session.

The blue-chip NSE Nifty 50 index ended up 0.71% at 11,521.80, while the benchmark S&P BSE Sensex closed 0.74% higher at 39,044.35.

India’s retail inflation of 6.69% in August was lower than a Reuters poll forecast, though it remained above the upper end of the Reserve Bank of India’s (RBI) medium-term target for a fifth straight month, which is unlikely to give the RBI room to cut rates at its October meeting.