BENGALURU, Oct 18 (Reuters) - Indian shares rose for the seventh straight session to close at an all-time high on Monday helped by gains in public sector banks, while metals and energy stocks surged on the back of a rise in commodity prices.
The NSE Nifty 50 index (.NSEI) closed up 0.76% at 18,477.05, while the S&P BSE Sensex (.BSESN) rose 0.76% to 61,762.86.
The Nifty Metals index (.NIFTYMET) surged 3.9%, led by gains of more than 10% in National Aluminium Co (NALU.NS), Vedanta (VDAN.NS), Hindustan Copper (HZNC.NS) and Hindustan Zinc (HZNC.NS), as global metal prices spiked.
The Nifty Energy index (.NIFTYENR) rose 1.5% after crude prices hit their highest in years.
The Nifty Bank index (.NSEBANK) gained 0.80%, while the public sector bank index (.NIFTYPSU) surged 3.98%, rising for a seventh straight session.
Shares of PNB Housing Finance Ltd (PNBH.NS) fell 5% to their lowest since early June after the mortgage lender scrapped a fund-raising deal with a group of investors, led by private-equity firm Carlyle Group (CG.O). read more
Real estate developer Indiabulls Real Estate (INRL.NS) rose as much as 13.4% after it reported a quarterly net profit compared with a loss a year earlier.
Shares of Tata Power (TTPW.NS) rose as much as 19% after a report last week said the power generation company was in talks with pension and sovereign fund managers to raise about $500 million, before a planned IPO by its renewable energy unit.
Investors are now looking to updates from industries after state-run Coal India (COAL.NS) temporarily stopped auctioning coal to non-power customers and reduced contracted supplies, potentially hurting companies in other industries as India battles one of its worst power supply deficits in years. read more
Reporting by Nallur Sethuraman in Bengaluru; Editing by Shounak Dasgupta
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October 18, 2021 at 05:51PM
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Indian stocks close at record levels as banks, metals jump - Reuters India
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