Indian Shares Snap Seven-day Losing Streak
(RTTNews) - Indian shares ended notably higher on Thursday after seven consecutive sessions of losses.
A weakening U.S. dollar in international markets and easing global bond yields boosted investor sentiment following a surprise liquidity support announcement by the U.S. Treasury to stem a rout in the bond market.
The U.S. Treasury Department announced on Wednesday that it would buy back more longer-term debt, covering maturities of between 10 and 30 years in a bid to keep borrowing costs in check.
With value buying emerging at lower levels, investors shrugged off the impasse in talks for a deal to end the U.S.-Iran war and U.S. President Donald Trump's economic punishment plan for Tehran and its trading partners.
The benchmark 30-share BSE Sensex ended the session up 628.04 points, or 0.82 percent, at 77,537.72, while the NSE Nifty index surged 153.55 points, or 0.64 percent, to 24,231.85.
The BSE mid-cap and small-cap indexes rose around half a percent each. The market breadth was strong on the BSE, with 2,448 shares rising while 1,876 shares declined and 225 shares closed unchanged.
Among the top gainers, HDFC Bank, Bharti Airtel, NTPC, Hindustan Unilever, Larsen & Toubro, Power Grid Corp, Infosys, UltraTech Cement, Axis Bank, Bajaj Finance, ITC, Kotak Mahindra Bank and Eternal rallied 1-2 percent.
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