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Sensex, Nifty End Higher As Financials Rally
(RTTNews) - Indian shares rose notably on Thursday as falling oil prices and gains in rupee offset weak global cues.
Global cues were sluggish following weak China data and mixed signals from the U.S. Federal Reserve on rate-hike plans.
Closer home, a survey showed India's service sector activity increased significantly in April to reach its highest level in over a decade, underpinned by strong demand conditions.
The benchmark S&P BSE Sensex jumped 555.95 points, or 0.91 percent, to 61,749.25 while the broader NSE Nifty index settled 165.95 points, or 0.92 percent, higher at 18,255.80.
Adani Enterprises soared 4.7 percent to top the gainers list after its Q4 profit more than doubled.
Mortgage lender HDFC rallied 2.7 percent on reporting a 20 percent increase in quarterly profit.
HDFC Bank, SBI Life and Bajaj Finance jumped 2-3 percent while UPL and IndusInd Bank ended down over 1 percent each.
The rupee was firm in the afternoon and gold prices were little changed while oil prices rose about 1 percent, snapping a three-day rout on concerns over interest-rate increases and an impending recession in the United States.
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