Indian shares rose on Friday and logged weekly gains, aided by a rise in financials and optimism that the rate hike cycle may be near the end after global central banks hinted at inflation easing, while an intraday rebound in key Adani group stocks added to gains.
The Adani saga has hurt the sentiment in the market, three analysts said, adding that markets could be volatile over the next few sessions until clarity emerges on the conglomerate.
The rise in domestic equities is also spurred by dovish comments from global centrals banks over the last two sessions. The Reserve Bank of India is expected to raise the key policy repo rate by 25 bps at its policy meeting on Feb. 8, beginning the end of almost a year-long tightening cycle.Reporting by Bharath Rajeswaran in Bengaluru; Editing by Janane Venkatraman and Dhanya Ann Thoppil
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