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Sensex, Nifty Climb As Inflation Worries Ebb
(RTTNews) - Indian shares rose for a second straight session on Friday as traders pared down bets on where interest rates might peak.
The rate hike repricing sent 10-year U.S. Treasury yields to two-week lows while the dollar was on course for its first weekly decline this month on hopes that the recent decline in oil and other commodity prices will help reduce inflationary pressures.
The benchmark S&P BSE Sensex jumped 462.26 points, or 0.88 percent, to 52,727.98 while the broader NSE Nifty index settled at 15,699.25, up 142.60 points, or 0.92 percent, from its previous close.
Financials, FMCG and auto stocks topped the gainers list, with Hindustan Unilever, Bajaj Finance, IndusInd Bank, Hero MotoCorp and Mahindra & Mahindra rising 2-4 percent.
IT stocks underperformed, with Infosys and Tech Mahindra falling around 1 percent each.
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