Indian shares hit a seven-month high on Thursday, rebounding from earlier losses, as stocks such as Coal India Ltd. rose on firmer commodity prices, while sentiment was also underpinned by hopes about the economy.

 

The broader NSE Nifty ended 0.48 percent higher at 8,218.95, while the benchmark BSE Sensex closed up 0.48 percent at 26,843.14, after earlier falling as much as 0.3 percent each.

 

Both the indexes touched their highest since late October.

 

Shares of Coal India ended up 3.42 percent, their highest close in more than two months, after the company raised coal prices.

 

Asian stocks ended mixed on Thursday as yen strength persisted and oil prices drifted lower ahead of the OPEC and ECB meetings. Investors also awaited ADP payroll data due tonight and the US government’s official jobs report due on Friday for further clues on whether the Federal Open Market Committee would raise interest rates at the upcoming meeting on June 14-15. Chinese shares eked out modest gains even as weak factory activity readings brought global growth worries back at center stage. Japanese shares saw their biggest drop in one month as Brexit fears and disappointment over the lack of fresh stimulus plans to boost growth lifted the yen to a two-week high against the dollar. Prime Minister Shinzo Abe disappointed investors by failing to provide details of a fiscal stimulus package when he announced his widely-expected decision to delay the planned sales tax hike for a second time.