September 28, 2017 / 7:12 AM / 23 days ago

Sensex, Nifty snap longest losing streak in 2017; financials gain

REUTERS - Indian shares ended higher on Thursday, snapping their longest losing streak so far this year, as financials gained ahead of the expiry of derivative contracts.

People walk past the Bombay Stock Exchange (BSE) building in Mumbai, India, January 25, 2017. REUTERS/Shailesh Andrade/File Photo

The Sensex rose 0.39 percent to end at 31,282.48, while the Nifty ended 0.34 percent higher at 9,768.95. Both indexes had fallen in the previous seven sessions, marking their longest losing run since mid-December.

“Short-covering ahead of the F&O expiry gave muscle to relief rallies,” said Anand James, chief market strategist, Geojit Financial Services Ltd.

Financial stocks such as HDFC Bank Ltd and Kotak Mahindra Bank Ltd were among the top gainers, ending 1.06 percent and 2.62 percent higher, respectively.

Reporting by Vishal Sridhar in Bengaluru; Editing by Amrutha Gayathri

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