Sensex, Nifty Extend Rally Led By Banks
(RTTNews) - Indian shares extended gains for a sixth consecutive session on Friday, as falling oil prices helped offset recession worries.
The benchmark S&P BSE Sensex climbed 390.28 points, or 0.70 percent, to 56,072.23 despite mixed global cues.
The broader NSE Nifty index ended the session up 114.20 points, or 0.69 percent, at 16,719.45.
UltraTech Cement soared 4.9 percent on strong earnings, while HDFC, HDFC Bank, UPL and Grasim rallied 2-3 percent.
Among the losers, BPCL, Power Grid Corp, NTPC, Infosys and Tata Consumer Products dropped 1-2 percent.
Global cues were mixed as worse-than-expected second-quarter results from Snap Plc and weak European business activity data added to worries of a possible recession.
The rupee was little changed in the afternoon after the latest exchange data compiled by Bloomberg showed that overseas investors have bought a net $1 billion of local stocks in the first three days of this week.
Reserve Bank Governor Shaktikanta Das today said the Indian currency is holding up relatively well when compared to the currencies of emerging market peers and advanced economies.
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