Indian shares gain on banking, energy boost

Author of the article: BENGALURU — Indian shares rose on Monday, helped by gains in banking and energy stocks, and positive cues from Asian markets following strong Chinese economic data. The blue-chip NSE Nifty 50 index rose 0.43% to 18,183.25 and the benchmark S&P BSE Sensex rose 0.25% to 60,837.40 by 0358 GMT. Government-run Oil…
Indian shares gain on banking, energy boost

Author of the article:

BENGALURU — Indian shares rose on Monday, helped by gains in banking and energy stocks, and positive cues from Asian markets following strong Chinese economic data.

The blue-chip NSE Nifty 50 index rose 0.43% to 18,183.25 and the benchmark S&P BSE Sensex rose 0.25% to 60,837.40 by 0358 GMT.

Government-run Oil and Natural Gas Corporation climbed as much as 4.6% after reporting a near seven-fold jump in second-quarter net profit at 183.48 billion rupees ($2.47 billion). The Nifty Energy Index added 1.01%.

The Nifty Bank Index gained nearly 1%, helped by Kotak Mahindra and HDFC Bank that rose 1.2% and 0.9% respectively.

On investors’ radar are stock market debuts of PolicyBazaar’s parent PB Fintech, refined wood pulp maker Sigachi Industries and decorative esthetics player SJS Enterprises.

In broader Asian markets, shares edged higher as Chinese economic data surprised on the high side, with annual growth in retail sales and industrial output both handily beating forecasts.

($1 = 74.3620 Indian rupees) (Reporting by Vishwadha Chander in Bengaluru; editing by Uttaresh.V)

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