MUMBAI: India’s benchmark shares rose on Thursday, closing at 10-week high levels, led by IT and pharmaceutical shares after the US Federal Reserve delivered a quarter-point rate cut and on signs of easing trade tensions.
The Nifty 50 gained 0.37 percent to 25,423.60, and the BSE Sensex rose 0.39 percent to 83,013.96.
Shares of information technology and pharmaceutical firms, which earn a significant share of their revenue from the US, rose 0.8 percent and 1.5 percent respectively.
The pharma index also received an additional boost from Biocon and Natco Pharma, which rose 4 percent and 3.3 percent, respectively, aided by positive regulatory action by the US drug regulator.
Twelve of the 16 major sectors logged gains. The broader small-caps and mid-caps added about 0.3 percent and 0.4 percent, respectively.
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