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Benign US inflation buoys market to 3-month high; rate hike fears ease

Sensex has gained in six of past seven weeks

Markets, Stocks, BSE, NSE, SENSEX
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Photo: Shutterstock.com

Samie Modak Mumbai
The benchmark Sensex gained nearly one per cent on Friday, tracking gains of Asian peers, after soft inflation data in the US eased investor fears of fast interest rate hikes by the Federal Reserve. 

US consumer prices rose less than forecast in April, weighing on the dollar and improving investor sentiment. The MSCI Asia-Pacific index (excluding Japan) rose 0.9 per cent. Soft inflation would allow the Fed to increase rates at a gradual pace.

The benchmark Sensex and Nifty gained 0.82 per cent, each led by gains in the banking stocks. The Sensex ended at 35,535, its highest close in

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