INDIA STOCKS-Indian benchmarks open higher on softer US, local inflation

Updates for market open

May 14 (Reuters) – India’s benchmark indexes opened higher on Wednesday, lifted by softer-than-anticipated retail inflation in the U.S. and domestic economy in April.

The Nifty 50 .NSEI was up 0.2% to 24,631 and the BSE Sensex .BSESN added 0.25% to 81,350 as of 9:17 a.m. IST.

Ten of the 13 major sectors advanced. The broader small-caps .NIFSMCP100 and mid-caps .NIFMDCP100 gained about 0.3% each.

Softer domestic inflation boosted hopes for further rate cuts by the Reserve Bank of India, while favourable U.S. inflation data and easing U.S.-China trade tensions helped alleviate recession fears.

Asian markets also rose on the day, with the MSCI Asia ex Japan .MIAPJ0000PUS gaining around 1%.

(Reporting by Vivek Kumar M; Editing by Sumana Nandy)

((VivekKumar.M@thomsonreuters.com;))