Indian shares ended higher for a fourth straight session on Friday, mirroring firm cues from global markets.
Sentiment was underpinned as weak U.S. retail sales data led traders to reassess their expectations for early rate cuts by the Federal Reserve.
The U.K. followed Japan into recession at the end of last year, raising pressure on the Bank of England to start trimming borrowing costs next quarter on in the July-September period.
Elsewhere in Europe, ECB member and Bank of France head Francois Villeroy de Galhau said the central bank should favor gradual rate cuts rather than waiting too long to cut rates this year.
The benchmark S&P BSE Sensex ended the session up 376.26 points, or 0.52 percent, at 72,426.64, mirroring gains in the global markets.
The broader NSE Nifty index settled 129.95 points, or 0.59 percent, higher at 22,040.70, with auto stocks leading the surge.
Bajaj Auto, Adani Ports, Mahindra & Mahindra, SBI Life and Wipro rallied 3-5 percent in the Nifty pack while Power Grid Corp led losses to close 2.5 percent lower after recent strong gains.
Market Analysis
Sensex, Nifty Extend Gains For Fourth Day On Global Cues
2024-02-16 10:29:49
