Indian shares closed higher on Friday, led by gains in metal and state-owned banks while India's most valuable company, Reliance Industries Ltd, jumped to a record high during the session ahead of its September-quarter results announcement. The broader NSE index ended 0.65% higher at 11,661.85, while the benchmark BSE index finished up 0.63% at 39,298.38. For the week, the NSE index was up 3.16% and the BSE index was 3.07% firmer.
Investors were looking forward to a better-than-expected quarterly result from Reliance for the three months ended September 30 on the back of last month's corporate tax cut. Reliance's shares ended 1.42% higher, after surging as much as 2.25%. The company became the country's first to reach a market cap of 9 trillion rupees ($126.51 billion) during the session.
Meanwhile, the NSE state-owned banks index closed up 1.43%, while the NSE metals index rose 1.87%. Yes Bank's shares jumped 8.44% and topped the gainers list on the Nifty. Zee Entertainment was the top loser of the day and fell 5.39%.
Comments
Comments are closed.