BENGALURU (Reuters) - India’s main stock indexes ended higher for the first time this week on Thursday, driven by gains in banking and energy stocks.
The NSE Nifty 50 index closed 0.6% higher at 12,180.35, while the S&P BSE Sensex ended up 0.66% at 41,386.40.
The market gained after some mild consolidation during the week, said Vinod Nair, head of research at Geojit Financial Services.
A slew of disappointing earnings had weighed on the market earlier this week, with Nifty 50 and Sensex losing about 2% each in the past three sessions.
On Thursday, the banking sector dominated the gains, with the Nifty Bank Index rising 1% and Nifty Public Sector Bank Index firming 1.24%.
Yes Bank jumped 6.6% and was the best performer in the Nifty 50.
Meanwhile, the Nifty energy index ended up 1.1%, with Indian Oil Corp gaining 4.14%.
India oil ministry wants state refiners such as IOC to buy oil from Brazil under annual deals, a source said on Wednesday.
Zee Entertainment lost about 7%, making it the top loser in the Nifty 50.
Reporting by Nallur Sethuraman in Bengaluru; Editing by Aditya Soni