Indian shares gain for fifth day; Cipla surges after earnings
MUMBAI Oct 18 (Reuters) - Indian shares rose for a fifth consecutive session on Tuesday, as drug maker Cipla jumped after posting a surge in quarterly earnings, while State Bank of India rose on hopes for rising demand for loans in the holiday season.
Cipla provisionally rose 4.2 percent, while State Bank of India added 1.2 percent.
The BSE index provisionally gained 0.32 percent, while the 50-share NSE index ended up 0.35 percent. (Reporting by Abhishek Vishnoi; Editing by Rafael Nam)
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The recent market correction was overdue. A further correction would be an opportunity for those who missed the rally in the past few months. The markets could get a reality check next year and consolidate before the next big movement. I still believe PM Modi will not fritter away his mandate and deliver on his promise, albeit with a delay, writes Ambareesh Baliga. Article