India Stocks Extend Winning Streak; Energy Companies Advance
(Bloomberg) -- India stocks rose as investors focused on local events amid easing cross-border tensions.
The S&P BSE Sensex climbed for a third session, rising 0.5 percent to 36,636.10 in Mumbai. Stocks rallied on Tuesday, led by buying in mid- and small-sized companies. The NSE Nifty 50 Index advanced 0.6 percent on Wednesday.
- “The buying spree in mid- and small-cap companies is likely to continue as valuations continue to be extremely attractive,” said Chokkalingam G, managing director of Equinomics Research & Advisory Pvt. in Mumbai.
- All but one of 19 sector indexes compiled by BSE Ltd. gained, led by a gauge of energy companies.
- Reliance Industries Ltd. gave the biggest boost to the benchmark gauge.
- Edelweiss Financial Services Ltd. climbed 6 percent after Canadian fund CDPQ agreed to invest $250 million in its non-bank finance unit.
- Dewan Housing Finance Corp Ltd. surged 11.1 percent following a filing by an independent auditor on allegations made by news portal Cobrapost.
Analyst Notes/Market-Related Stories
©2019 Bloomberg L.P.