Indian share prices rose 0.51 percent on Thursday with select buying as global markets improved ahead of the latest US Federal Reserve Bank statement on monetary policy, dealers said.
They said sentiment was cautious with most analysts expecting the US central bank to keep its key rate unchanged at 5.25 percent at the end of a two-day review Thursday.
The 30-share Sensex index rose 73.51 points to 14,504.57. Cement shares rose after the government said Thursday there was no freeze on cement prices while banking stocks rose on an easing of global rate concerns.
"The markets saw select buying. We expect a clearer direction as first quarter earnings data comes through next month," said Hiten Mehta, a fund manager with Fortune Financial Services. Indian companies are scheduled to announce earnings next month for the quarter ending June.
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