BENGALURU: Indian shares rose over 1% on Friday, boosted by information technology companies and banks as cooling US inflation fuelled hopes that aggressive Federal Reserve rate stance might begin to ease.
The NSE Nifty 50 index rose 1.3% to 18,269 as of 0351 GMT, while the S&P BSE sensex added 1.4% to 61,453.18.
All three major US stock indexes notched their biggest one-day percentage gains in about two-and-a-half years in a broad, robust rally as the Labor Department’s data showed the annual consumer price index number below 8% for the first time in eight months.
India will report its October inflation number next week.
In domestic earnings, Nifty component Mahindra and Mahindra , top insurer Life Insurance Corporation of India , battery maker Exide Industries, engineering company Bharat Heavy Electricals will be among the scores of companies reporting quarterly numbers.
The Nifty IT index surged 3.2%, while the bank index gained 1.3%.
Shares of Zomato jumped 10% after the Indian food delivery firm on Thursday reported a narrower loss for the second quarter.
The NSE Nifty 50 index rose 1.3% to 18,269 as of 0351 GMT, while the S&P BSE sensex added 1.4% to 61,453.18.
All three major US stock indexes notched their biggest one-day percentage gains in about two-and-a-half years in a broad, robust rally as the Labor Department’s data showed the annual consumer price index number below 8% for the first time in eight months.
India will report its October inflation number next week.
In domestic earnings, Nifty component Mahindra and Mahindra , top insurer Life Insurance Corporation of India , battery maker Exide Industries, engineering company Bharat Heavy Electricals will be among the scores of companies reporting quarterly numbers.
The Nifty IT index surged 3.2%, while the bank index gained 1.3%.
Shares of Zomato jumped 10% after the Indian food delivery firm on Thursday reported a narrower loss for the second quarter.
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