Summary : Indian shares rose for a seventh straight session on Thursday, taking cues from broader Asia and helped by gains in information technology stocks, while investors awaited a central bank policy decision on Friday for further cues.
The Reserve Bank of India has raised rates twice since May and is expected to hike again on Friday to tame persistently high inflation in Asia’s third-largest economy.
In Mumbai trading, the Nifty’s IT index (.NIFTYIT) extended gains from the previous session to rise more than 1% and was the top performer among sub-indexes.
Biscuit maker Britannia Industries (BRIT.NS) was down 0.4%, ahead its quarterly earnings results due later in the day.
In broader Asia, equities rose, following a strong rally on Wall Street after data showed the services industry unexpectedly picked up in July.
Reporting by Rama Venkat in Bengaluru; Editing by Subhranshu Sahu
BENGALURU, Aug 4 (Reuters) – Indian shares rose for a seventh straight session on Thursday, taking cues from broader Asia and helped by gains in information technology stocks, while investors awaited a central bank policy decision on Friday for further cues.
The NSE Nifty 50 index (.NSEI) was up 0.43% at 17,462.35, as of 0350 GMT, while the S&P BSE Sensex (.BSESN) rose 0.46% to 58,619.16.
The Reserve Bank of India has raised rates twice since May and is expected to hike again on Friday to tame persistently high inflation in Asia’s third-largest economy.In Mumbai trading, the Nifty’s IT index (.NIFTYIT) extended gains from the previous session to rise more than 1% and was the top performer among sub-indexes. Infosys Ltd (INFY.NS) jumped 2% and provided the biggest boost to the benchmark Nifty 50.
Biscuit maker Britannia Industries (BRIT.NS) was down 0.4%, ahead its quarterly earnings results due later in the day.
In broader Asia, equities rose, following a strong rally on Wall Street after data showed the services industry unexpectedly picked up in July.
