BENGALURU, Nov 15 (Reuters) - Indian shares advanced on Wednesday mirroring global stocks after softer-than-expected U.S. inflation data strengthened hopes of an end to the rate-hiking cycle in the world's largest economy.

The NSE Nifty 50 index was up 0.93% at 19,623.85 as of 9:54 a.m. IST, while the S&P BSE Sensex rose 0.89% to 65,508.75.

All 13 major sectors logged gains. High weightage financials gained 1%. Information technology (IT) stocks jumped 2%. IT companies earn a significant share of their revenue from the U.S.

Wall Street equities climbed higher overnight, while Asian markets jumped on Wednesday.

The rise came after data showed U.S. consumer price inflation (CPI) remained unchanged in October, the first such instance in more than a year, after a 0.4% rise in September. Economists polled by Reuters had forecast CPI to rise 0.1%.

The data spurred hopes of an end to the interest rate hikes by the U.S. Federal Reserve, sparking a rally in stock markets and pushing U.S. Treasury yields lower.

"US Treasury yields are headed lower, while dollar remains weak. An equity market rally is imminent," said Sanjiv Bhasin, director at IIFL Securities. Bhasin added falling yields after US inflation data meant that foreign flows will return to domestic markets.

Metals gained 2%, also aided by better-than-expected industrial output growth in China in October. China is the world's largest producer and consumer of metals.

Hindalco Industries jumped 5% and was the top Nifty 50 gainer.

Realty gained about 2.6% each and hit a record high. The more domestic-focussed small- and mid-caps gained 1% and 0.7%, respectively.

Among individual stocks, Manappuram Finance surged 9%, extending its post-earnings rally for the second session. The gold financier topped second quarter profit estimates on high loan demand.

(Reporting by Bharath Rajeswaran in Bengaluru; Editing by Varun H K and Nivedita Bhattacharjee)