Indian shares rally for second month

BENGALURU: Indian shares closed at record highs for a fifth straight day on Wednesday, extending their daily rally to seven days and logging a second straight month of gains, boosted by hopes of a less hawkish interest rate environment.

A surge in the final half an hour of trading boosted the two main indexes. The S&P BSE Sensex closed 0.67% higher at 63,099.65, and the NSE Nifty 50 index finished 0.75% higher at 18,758.35.

The Nifty gained 4.14% in November, while the Sensex rose 3.87%, though the gains were less than in October. The two indexes have been on a tear since the minutes of the US Federal Reserve’s last meeting, released a week back, raised expectations the central bank could ease its monetary policy.