Indian Shares Stage Late Recovery To End Modestly Higher
(RTTNews) - Indian shares fluctuated before finishing modestly higher on Friday, as a sell-off in government debt eased and oil prices retreated from recent highs following reports that Iran has submitted a proposal to the United States to end their war and reopen the Strait of Hormuz within seven days.
The proposal was delivered to U.S. officials when the sides met through mediators this week, the Washington Post quoted Iranian Foreign Minister Abbas Araghchi as saying on the sidelines of the UN General Assembly session in New York.
The latest plan calls for a cessation of all hostilities in the Middle East for seven days, including in Lebanon, according to the New York Times.
The benchmark 30-share BSE Sensex recovered from a flat, muted start to end the session up 315.20 points, or 0.43 percent, higher at 73,895.74.
The NSE Nifty index closed 77.40 points, or 0.34 percent, higher at 23,140.50, led by rate-sensitive auto, banking and realty stocks.
The BSE mid-cap index dropped 0.3 percent while the small-cap index ended little changed.
The market breadth was slightly positive on the BSE, with 2,264 shares rising while 2,068 shares fell and 244 shares closed unchanged.
Among the top gainers, HDFC Bank, Larsen & Toubro, Indigo, Titan Company, HCL Technologies, Bajaj Finance, Asian Paints, Mahindra & Mahindra and Axis Bank surged 1-3 percent.
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