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 Sensex closed up 0.97 percent at 26,999.72.

 

In the 50-share index, BHEL, Grasim, Dr Reddy’s Labs, Axis Bank and Tata Steel gained between 3 per cent and 5.05 per cent. On the other hand, Sun Pharma, Infosys, Bosch, Cipla and Gail slid between 0.08 per cent and 0.76 per cent.