* NSE index up 0.2 pct, BSE index 0.1 pct higher
* Both indexes head for 3rd straight weekly gain
* SBI bounces back ahead of quarterly results
By Arnab Paul
Feb 10 Indian shares edged up on Friday, heading
for a third straight weekly gain, as lenders rebounded from
disappointment over the central bank's decision to hold rates
while sentiment also got a boost after Asian shares hit an
MSCI's broadest index of Asia-Pacific shares outside Japan
rose to its highest since July 2015, on upbeat
Chinese trade data and U.S. President Donald Trump's
announcement of tax incentives to help businesses.
"I feel it's post-budget buying, taking place in certain
counters," said Deven Choksey, managing director at KR Choksey
Shares and Securities.
"Till the end of March we might see this sort of buying
taking place and I don't see any major correction in this
The broader NSE index was up 0.2 percent at 8,795.90
as of 0608 GMT, on track for a third consecutive session of
gains, while the benchmark 30-stock BSE index was 0.1
percent higher at 28,354.70.
The BSE index has gained 0.4 percent so far this week and
the NSE index has added 0.6 percent, on hopes of an improving
economy despite disappointment about the Reserve Bank of India's
decision on Wednesday to keep the policy rate on hold and the
unexpected change in stance to "neutral" from "accommodative".
Banking stocks were the biggest gainers on Friday with the
Nifty bank index rising as much as 0.8 percent. State
Bank of India Ltd climbed as much as 1.8 percent ahead
of its quarterly results later in the day. It had closed 0.5
percent lower in the previous session.
IT companies were also in the green with Tata Consultancy
Services Ltd and Infosys Ltd gaining as much
as 1.4 percent and 0.9 percent, respectively. The Nifty IT index
rose as much as 0.9 percent, heading for a third
Grasim Industries Ltd hit four-month highs after
U.S. index provider MSCI added the company to its
Emerging Markets index on Thursday.
(Editing by Subhranshu Sahu)