Home Markets Indian shares rise after four sessions of losses, pharma top boost

Indian shares rise after four sessions of losses, pharma top boost

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BENGALURU, Oct 4 (Reuters) – Indian shares rose on Monday after four sessions of falls, with pharma stocks leading the recovery in broad-based buying, while investors waited for the September-quarter earnings season to start and a central bank rate decision due later in the week.

The NSE Nifty 50 index (.NSEI) climbed 1.03% to 17,713.90 by 0505 GMT, while the S&P BSE Sensex (.BSESN) gained 1.09% to 59,406.33.

Both indexes posted their worst weekly performance in several months last week as markets consolidated after scaling record highs multiple times in September on declining COVID-19 cases and easing restrictions across the country.

“We are seeing a relief rally, investors who were on the sidelines last week seem to be entering markets again,” said Anand James, chief market strategist at Geojit Financial Services.

“Prior to the Reserve Bank of India’s (RBI) meeting and the start of earnings, we may see prices being pushed higher.”

The RBI is likely to…

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