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Sensex, Nifty Extend Gains Despite Weak Global Cues
(RTTNews) - Indian shares rose on Thursday to extend gains for a fifth day running despite weak cues from global markets.
Global sentiment was fragile as rising oil prices revived inflation fears and Boston Fed President Susan Collins warned that more policy tightening could be warranted.
Stronger-than-expected U.S. services sector data also fueled concerns that U.S. interest rates may stay higher for longer.
Despite global headwinds, the benchmark S&P BSE Sensex ended the session up 385.04 points, or 0.58 percent, at 66,265.56.
The broader NSE Nifty index settled 116 points, or 0.59 percent, higher at 19,727.05. Coal India shares jumped nearly 7 percent on heavy volumes while SBI, SBILife, IndusInd Bank and Larsen & Toubro climbed 2-4 percent.
Cochin Shipyard soared 20 percent to reach a record high on a strong business outlook.
On the flip side, Tata Consumer Products fell 2.3 percent after denying reports that it is in talks to acquire a majority 51 percent stake in the snack and sweet brand Haldiram.
Sun Pharma, Mahindra & Mahindra, Britannia Industries and ONGC all fell around 1 percent.
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