India's stock markets rose nearly 1 percent on Thursday, on track to snap a three-session losing streak, as consumer stocks gained on hopes lower inflation and a larger-than-expected rate cut by the central bank in September would boost spending in the coming festive season.


Wholesale prices fell for an 11th straight month in September, plunging an annual 4.54 percent primarily on the back of tumbling oil prices, government data showed on Wednesday.


The country kicks off its two-month religious festive period on Monday, a time considered auspicious to buy big-ticket items such as cars, and when promotions abound. Company executives say they see the RBI's unexpectedly sharp 50 basis point cut last month as a lifeline.

Consumers have already been showing an eagerness to spend more on small luxuries, like movie tickets and fancy haircuts, even as the overall economy struggles to take off after a period of cooler growth.