Indian Shares Extend Gains For Fourth Day
(RTTNews) - Indian shares closed Tuesday's session on a buoyant note, extending gains for a fourth consecutive session after Brent crude futures slumped nearly 8 percent on Monday amid signs of diplomatic progress between the U.S. and Iran.
Lingering concerns over heavy investments in artificial intelligence (AI) infrastructure along with Apple's disappointing revenue and margin guidance also helped shift focus back toward the Indian equity growth story.
Amid renewed foreign fund inflows, investors shrugged off a rebound in crude oil prices after a reported U.S. attack on Iran's strategic Qeshm Island.
Meanwhile, the U.S. midterm elections are due to get underway, with investors watching for implications for fiscal policy, trade and the Iran conflict.
The 30-share BSE Sensex soared 1,225.07 points, or 1.62 percent, to 76,917.85, while the NSE Nifty index jumped 370.05 points, or 1.58 percent, to 23,810.85.
The BSE mid-cap and small-cap indexes rose 0.8 percent and 0.4 percent, respectively. The market breadth was strong on the BSE, with 2,499 shares rising while 1,903 shares fell and 204 shares closed unchanged.
Among the top gainers, ITC, ICICI Bank, UltraTech Cement, Asian Paints, HDFC Bank, Bharti Airtel and Hindustan Unilever surged 3-4 percent.
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