Indian shares rise 5.49 percent

Indian shares rose 5.49 percent on Friday, snapping seven straight trading days of losses, reacting to gains seen across Asian and European markets, dealers said. The benchmark 30-share Sensex rose 464.2 points to 8,915.21. "The markets were heavily oversold and buying sentiment improved on overseas trends," said Advait Date, dealer at brokerage BHH Securities.
The markets were choppy, recovering smartly late afternoon from an intra-day low of 8,442.31. On Friday's stock market, losers led gainers 1,293 to 1,177 on volume of 35.62 billion rupees (711 million dollars).
Reliance Industries rose 68.75 rupees or 6.49 percent to 1,127.35. Reliance Communications rose 24.85 rupees or 13.64 percent to 207.15. Larsen and Toubro rose 48.05 rupees or 6.07 percent to 760.35.