REUTERS - Indian shares recovered from the previous session's multi-month lows to trade marginally higher on Friday, with financials leading the gains on prospects of further rate cuts after inflation cooled to a 13-month low in September.
However, gains were limited as Infosys
"I would pencil-in another 25 basis point cut (in repo rate), if not in December then definitely in March, as inflation numbers have come down," said Ravi Sunder Muthukrishnan, head - strategic research group at ICICI Securities.
India's consumer price index rose 4.31 percent last month from a year earlier, its slowest pace since August 2015, helped by moderating food prices. This gives room for the central bank to cut interest rates again if needed.
The benchmark BSE Sensex was 0.1 percent higher at 27,672.31 as of 0634 GMT after declining as much as 0.34 percent earlier in the day. For the week, the index was down 1.4 percent.
The broader NSE Nifty was up 0.03 percent at 8,575.75 after falling as much as 0.27 percent earlier in the session.
Among other gainers, Tata Consultancy Services
(Reporting by Aastha Agnihotri in Bengaluru; Editing by Subhranshu Sahu)
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