Indian shares gain for 6th day; financial stocks lead
MUMBAI Nov 7 (Reuters) - Indian shares rose for a sixth session on Wednesday, with State Bank of India gaining on hopes of improved asset quality when it reports September quarter results on Friday, while other lenders such as ICICI Bank also rose in anticipation of better loan growth in the holiday season.
Gains also tracked a rally in global shares after U.S. President Barack Obama was re-elected for a second term, signalling no dramatic shift in U.S. economic policy.
State Bank of India provisionally rose 1.7 percent while ICICI Bank ended 1.28 percent higher.
The BSE index provisionally gained 0.4 percent, while the 50-share NSE index ended up 0.54 percent. (Reporting by Abhishek Vishnoi; Editing by Sunil Nair)
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India approved on Saturday the purchase of 814 mounted gun systems for the army at a cost of 157.5 billion rupees ($2.55 billion), a defence ministry spokesman said. Full Article