Indian shares scale peaks on metals boost; GDP data in focus reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
By Reuters Staff
Slideshow ( 2 images )
BENGALURU (Reuters) - Indian shares ended higher on Friday and notched their best weekly gain since April as State Bank of India advanced, while bond yields surged after the central bank kept interest rates unchanged.
The NSE Nifty 50 index ended up 0.19% at 14,924.25, having risen as much as 0.8% earlier in the session, while the S&P BSE Sensex gained 0.23% to close at 50,731.63.
For the week, the benchmark indexes closed up more than 9%, their best since the week ending April 10, 2020, largely on optimism from measures announced in the federal budget on Monday.
The Reserve Bank of India (RBI) kept rates steady and reiterated that it will continue to support the recovering economy by ensuring ample rupee liquidity in the banking system.