Indian shares jump; Sensex led by banks, technology firms
MUMBAI, India: Indian shares rose sharply Thursday, propped up by gains in banks and technology companies.The Bombay Stock Exchange's benchmark 30-stock Sensex climbed 237 points, or 1.5 percent, to 16,481 points within an hour of opening.
On the broader National Stock Exchange, the 50-company S&P Nifty index rose 71 points, or 1.5 percent, to 4,958 points.
Banks posted strong gains with HDFC Bank Ltd. leading the pack. HDFC Bank closed 7 percent up at 1,396 rupees, followed by ICICI Bank Ltd. advancing 2.4 percent at 835 rupees, State Bank of India was up 1 percent at 1,683 rupees.
Technology companies rose with Infosys Technologies Ltd. up 4.2 percent at 1,666 rupees, Satyam Computer Services Ltd. up 3.3 percent at 469 rupees, Tata Consultancy Services Ltd. advanced 2.7 percent to 1,001 rupees and Wipro Ltd. up 2.7 percent at 459 rupees.