<div id="readability-page-1"><div>** India's Nifty 50 up 0.5%, Sensex up 0.4%** Rise after softer U.S. inflation fuels hopes of rate cut by Federal Reserve next year** Fourteen of 16 major sectors trade higher; mid-caps and small-caps up 0.4% and 0.6%, respectively** Shriram Finance jumps 3% to record high after Japan's MUFG announces plans to buy 20% stake; top nifty 50 gainer** Asian markets (.MIAPJ0000PUS) also rise 0.6% ** Investor sentiment also lifted by foreign investors turning buyers in India after aggressive sell-off earlier this month** However, benchmark indexes set for third consecutive weekly losses after rupee slide and foreign outflows earlier this week** Reliance Industries jumps 1.5% after unit acquires Udhaiyam brand** Groww jumps 10% after Jefferies initiates with &#34;Buy&#34; rating</div></div>

Indian shares rose as hopes for a Federal Reserve rate cut next year increased following softer U.S. inflation. The Nifty 50 and Sensex indices gained, with Shriram Finance jumping 3% after MUFG's stake announcement. Reliance Industries and Groww also saw significant gains. Despite positive investor sentiment, benchmark indexes are set for weekly losses due to earlier rupee slide and foreign outflows.

Indian shares rise on Fed rate cut bets; Shriram Finance jumps after MUFG deal