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U.S. consumer prices rose less than expected in April in a boost to financial market expectations for a September rate cut by the Federal Reserve, which could temper dollar strength and make oil more affordable for holders of other currencies.

The dollar fell 0.2% against a basket of other major currencies, making gold more attractive for other currency holders. Benchmark 10-year Treasury yields hit their lowest in a more than one month.

The data provided palpable relief to markets after higher-than-expected U.S. consumer prices in the first quarter had led to a sharp paring of rate cut bets, and even stoked some worries of an additional hike.

Stocks that were in focus include names like Siemens India, which rose 6.33%, Oil India, which jumped 1.98%, and LIC, whose shares increased 6.82% on Wednesday.

The Bain and Temasek combination submitted a non-binding offer late last week valuing India’s largest snack and convenience foods company at $8-8.5 billion (Rs 66,400-70,500 crore), after initially engaging with the founding family of the 87-yearold brand separately, said people aware of the matter.

"Although the company made a debut with a flat opening, its wide geographical distribution network and strong fundamentals offer good opportunity for the long-term as its target customers are low-income groups from rural and semi-urban areas," said Raj Gaikar, analyst, Samco Securities. "The housing finance credit share of rural and semi-urban locations is rising continuously, giving housing finance companies (HFC) an opportunity to expand their operations."

HDFC Life announced its highest-ever bonus of Rs 3,722 crore on participating plans. This bonus will benefit over 22.23 lakh policyholders.

"Post transaction, the entire promoter group, including persons acting in concert, continues to hold 31.67% in the company and remains committed to the future of Cipla," the company said in a statement.

Banks adjust deposit rates according to their asset and liability positions and demands for funds in specific tenures. This is the first increase by SBI in deposit rates since December 2023. - Our Bureau