BENGALURU, Oct 31 (Reuters) - Indian shares extended gains on Thursday to settle at multi-month highs, after an interest rate cut by the U.S. Federal Reserve lifted investor sentiment, with Yes Bank stealing the limelight with a near 24% surge.
Yes Bank said it has received a binding offer of $1.2 billion from a global investor as the private-sector lender looks to raise capital through a fresh issue of shares.
The broader NSE index closed higher for a fifth straight session, up 0.28% at 11,877.45, its highest since July.
The benchmark BSE index, which hit a record high during the session, closed at its highest since June, up 0.19% at 40,129.05. It finished in positive territory for the fourth consecutive session.
The Nifty PSU Bank index, which tracks the country’s state-run lenders, settled up nearly 4%, with State Bank of India adding 7.8%.
Shares of Infosys Ltd gained 4% and were among the top five gainers on the NSE index.
Indian Oil Corp Ltd fell 0.2% after the oil retailer reported a slide in quarterly profit. (Reporting by Chandini Monnappa in Bengaluru; Editing by Subhranshu Sahu)