Indian Shares End Higher For Second Day

(RTTNews) - Indian shares rose notably on Thursday, adding to the previous session's gains as crude oil prices continued to slide in international markets on signs of improved traffic through the Strait of Hormuz and reports of "positive progress" in indirect Doha talks between Washington and Tehran.

Inflation and interest-rate concerns eased after Fed Chair Kevin Warsh and European Central Bank President Christine Lagarde both said price risks have come down in recent weeks.

Investor sentiment was also underpinned after India and Japan signed pacts to boost their cooperation in artificial intelligence, metals, energy, and prepared a joint roadmap for economic security.

The 30-share BSE Sensex surged 579.48 points, or 0.75 percent, to 77,502.12, after having snapped a two-session losing streak on Wednesday following robust June sales reported by domestic auto manufacturers.

The NSE Nifty index jumped 169.85 points, or 0.71 percent, to 24,175.70 while the BSE mid-cap and small-cap indexes jumped 0.7 percent and 1 percent, respectively.

The market breadth was strong on the BSE, with 2,541 shares rising while 1,738 shares fell and 179 shares closed unchanged.

Information technology stocks rebounded from recent string of losses, with Infosys, Tech Mahindra, TCS and HCL Technologies climbing 4-6 percent amid a weakening AI trade in other Asian countries like South Korea and Japan.

Tata Technologies soared 6.2 percent after expanding its global partnership with Tenneco LLC to accelerate mobility transformation initiatives.

Among other prominent gainers, ICICI Bank, Titan Company, Adani Ports, Mahindra & Mahindra and Bajaj FinServ surged 2-3 percent.