Indian shares closed higher on Thursday, erasing their losses suffered on Friday after Britons unexpectedly voted to exit the European Union, as investors focused on improving prospects of the domestic economy.
Hopes of a good monsoon and a recovery in earnings have boosted the market, with the broader NSE Nifty surging more than 7 percent in the April-June quarter, its strongest since April-June 2014 and its first quarterly gain in five.
The Nifty ended 1.02 percent higher at 8,287.75, while the benchmark BSE Se
Indian shares rose on Tuesday as the good progress of monsoon rains lifted consumer goods makers such as Hindustan Unilever that depend on the rural economy, though trading volumes were thin due to continued concerns about the Brexit fallout.
The Nifty ended 0.41 percent higher at 8,127.85, while the Sensex closed 0.46 percent higher at 26,524.55.
Shares of ITC Ltd rose as much as 2.84 percent to their highest since February 2015, while Hindustan Unilever gained up to 3.62 percent.
Indian shares rose slightly in choppy trade on Monday as forecast of an extended monsoon season sent cement makers and agriculture-related firms higher, offsetting lingering concerns from Britain's vote to leave the European Union.
The Nifty ended up 0.08 percent at 8,094.70, after falling as much as 4.15 percent in the previous session, its biggest single-day percentage fall since Feb. 11.
The Sensex closed 0.02 percent higher at 26,402.96.
Cement makers were among the to
Market benchmark indices BSE Sensex and NSE Nifty plunged over 2 per cent on Friday as UK’s vote to exit European Union sent financial markets into a tailspin.
Sensex closed 604.51 points, or 2.24 per cent, down at 26397.71, while Nifty index settled 193.90 points, or 2.34 per cent, down at 8,076.55
On the other hand, Tata Motors, Tata Motors DVR, Tata Steel, Hindalco and Larsen & Toubro slid 8.25 per cent, 7.50 per cent, 6.59 per cent, 5.73 per cent and 4.82 per cent, respectively.
