Domestic shares gathered momentum after a slew of Chinese data boosted optimism about the health of the world's second-largest economy.
Amid increased volatility due to the earning season, investors are also focusing on the central bank's stance on interest rates at its next meeting on October 30.
Shares in banks, property and auto gained on hopes of higher consumer spending during the Dussehra festival on October 24 and the Diwali festival in mid-November, which are considered auspicious times to buy big-ticket items such as vehicles and property. State bank of India gained 2.9 percent while private lender Axis Bank rose 4.2 percent.
Shares in Sun Pharmaceutical Industries fell 1.6 percent on worries the drug maker will soon see an end to its temporary arrangement to supply cancer drug Doxil in the United States while, the move is opposed by the wireless industry which says it will cost about $24 billion more in capital outlay. [ Via ]
Amid increased volatility due to the earning season, investors are also focusing on the central bank's stance on interest rates at its next meeting on October 30.
Shares in banks, property and auto gained on hopes of higher consumer spending during the Dussehra festival on October 24 and the Diwali festival in mid-November, which are considered auspicious times to buy big-ticket items such as vehicles and property. State bank of India gained 2.9 percent while private lender Axis Bank rose 4.2 percent.
Shares in Sun Pharmaceutical Industries fell 1.6 percent on worries the drug maker will soon see an end to its temporary arrangement to supply cancer drug Doxil in the United States while, the move is opposed by the wireless industry which says it will cost about $24 billion more in capital outlay. [ Via ]
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