Indian shares surge

26 Aug, 2006

Indian share prices rose 0.35 percent in choppy trade on Friday as investors bought index and small-cap stocks, led by broadly positive Asian market trends, dealers said. They said buying was seen in shares of India's largest bank State Bank of India which rose after the government gave the signal for the bank to raise its capital to fund robust demand for loans.
The 30-share benchmark Sensex index rose 40.25 points to 11,572.20. "Local buying pushed the markets up, improving the near-term outlook. But global factors like Iran's stand on its nuclear programme, oil prices and local inflationary trends make the medium-term trend unclear," said Manoj Kakaiya, dealer at brokerage ULJK Securities.

Read Comments