Indian shares surge nearly 2 pct after RBI provides dollars to oil firms
MUMBAI Aug 29 (Reuters) - Indian shares rose nearly 2 percent as blue chip shares including HDFC surged tracking a rebound in the rupee from a record low in the previous session, after the central bank's move to provide dollars directly to oil companies.
Mortgage lender Housing Development Finance Corp Ltd provisionally rose 5.7 percent, while software exporter Tata Consultancy Services Ltd ended 1.2 percent higher after earlier making its all-time high at 1,970 rupees.
The benchmark BSE index provisionally rose 1.7 percent, while the broader NSE index ended 1.8 percent higher after earlier rising as much as 2.7 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