Indian share prices rose 1.84 percent on Friday, as fears eased that a row between the government and its communist allies over a nuclear deal with the United States would trigger early polls, dealers said. They said there was fresh buying by local and overseas funds even as global market trends were mixed.
The benchmark 30-share Sensex index rose 260.89 points to 14,424.87. "Buying was seen at lower levels as (political) parties are likely to buy time and not move for early polls," Advait Date, dealer at brokerage BHH Securities.
Metal, consumer goods stocks were the main gainers. The communists said on Thursday that they were ready to take whatever steps were necessary to halt implementation of the agreement but at the same time did not wish the dispute to affect the government. India's ruling Congress party coalition and its communist allies are at loggerheads over the civilian nuclear accord with the United States with neither side willing to back down.