Sensex Rises Over 400 Points; Nifty At 24,750
(RTTNews) - Indian shares ended Thursday's session modestly higher as weak private payrolls and services data raised concerns about the U.S. economic outlook but reinforced speculation that the Federal Reserve will cut interest rates at least twice this year.
Investors also looked ahead to the Reserve Bank of India's (RBI) monetary policy decision on June 6, with the central bank widely expected to cut interest rates by 25 basis points for the third consecutive time.
The benchmark S&P/BSE Sensex rose 443.79 points, or 0.55 percent, to 81,442.04, tracking gains elsewhere across Asia, a weaker dollar and lower U.S. Treasury yields. The broader NSE Nifty index closed up 130.70 points, or 0.53 percent, at 24,750.90 while the BSE mid-cap and small-cap indexes gained 0.4 percent and 0.7 percent, respectively.
The market breadth was positive on the BSE, with 2,272 shares rising while 1,705 shares declined and 152 shares closed unchanged.
Eternal surged 4.7 percent to extend its rally for a second straight session.
Dr Reddy's Laboratories soared 3.1 percent as it announced a strategic collaboration with Alvotech to co-develop, manufacture, and commercialize a biosimilar version of Keytruda (pembrolizumab) for global markets.
Sun Pharma, Adani Ports, UltraTech Cement, Reliance Industries, ICICI Bank and Power Grid Corp jumped 1-2 percent.
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