Sensex close 5.51 pc up on rate cut hopes | business | Hindustan Times
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Sensex close 5.51 pc up on rate cut hopes

business Updated: Dec 04, 2008 16:51 IST

Indian shares closed up 5.51 per cent on Thursday on hopes that the central bank could lower interest rates as inflation eased further, dealers said.

The benchmark 30-share Sensex rose 482.32 points to 9,229.75.

"With inflation easing further, the RBI could lower rates. Improving global clues aided sentiment," said a dealer
with brokerage Prabhudas Lilladher.

India's inflation rate hit a seven-month-low of 8.4 per cent, according to official data released earlier on Thursday, giving the central bank more room to cut interest rates to stimulate flagging economic growth, analysts said.