Indian shares rise to 1-month high

Our Bureau |Agencies | | Updated on: Dec 06, 2021

Indian equity shares surged to their highest level in more than a month on Friday, marking the best weekly performance since October, as blue-chips such as Larsen and Toubro gained after the central bank's unexpected rate cut on Thursday.

Software exporter Tata Consultancy Services dropped 0.3 per cent, dragging down peers, after it reported flat sequential US dollar revenue growth for the December quarter.

Broader sentiment was also hit as regional shares fell after Switzerland's central bank unexpectedly scrapped its currency cap - jolting markets already roiled by plunging commodities prices.

The 30-share BSE index Sensex ended at 28,121.89, up 46.34 points or 0.17 per cent and the 50-share NSE index Nifty closed at 8,513.80, up 19.65 points or 0.23 per cent.

Among BSE sectoral indices, consumer durables was the star-performer and was up 1.98 per cent, followed by healthcare 1.41 per cent, power 1.36 per cent and capital goods 1.23 per cent. On the other hand, IT index was down 0.24 per cent, TECk 0.07 per cent and banking 0.01 per cent.

Major Sensex gainers were Sun Pharma 2.88%, Coal India 2.55%, HUL 2.28%, M&M 2.1% and BHEL 2.05%, while the top five losers were Hindalco 2.4%, Bharti Airtel 1.89%, Hero MotoCorp 1.81%, SBIN 1.39% and Tata Motors 1.29%.

Global markets

The shockwaves of Switzerland's move to ditch its currency cap were still being felt on Friday, as investors made a fresh grab for top-rated government bonds, and world shares and commodities headed for another week of losses.

The Swiss franc dipped after Thursday's surge, but Swiss shares were again Europe's worst performers as stocks worldwide limped to their third week in the red.

European stocks were down 0.8 per cent, however, as Swiss shares dropped another 5 per cent and Greek shares lost over 2 per cent.

In Asia, MSCI's broadest index of Asia-Pacific shares outside Japan shed about 0.4 per cent, while the yen's recent rebound helped push Japan's Nikkei stock average down 1.4 per cent, and 1.9 per cent for the week.

Published on January 16, 2015
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