Sensex, Nifty Extend Rally For Fifth Day
(RTTNews) - Indian shares rose for a fifth straight session on Thursday despite mixed global cues and the impending weekly futures & options expiry.
The benchmark S&P BSE Sensex rose 284.42 points, or 0.51 percent, to 55,681.95, taking support from FII buying in recent sessions and a downward trend in oil prices.
Oil prices were down more than 4 percent in European trade, extending losses for a second consecutive session, after lower gasoline demand during the peak summer driving season in the U.S. casted gloom over the prospects for global demand.
The broader NSE Nifty index settled up 84.40 points, or 0.51 percent, at 16,605.25. IndusInd Bank soared 8 percent after its Q1 profit jumped 64 percent, beating analysts' forecasts.
Larsen & Toubro, UPL, Tata Consumer Products and Bajaj Finance all surged around 3 percent while Cipla, Kotak Mahindra Bank, SBI Life and Dr Reddy's Laboratories dropped 1-2 percent.
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