Sensex, Nifty End 3-Month Losing Streak Aided By Rise In Financial Stocks

The Nifty 50 index closed 1.63% higher at 17,359.75. The S&P BSE Sensex rose 1.78% to 58,991.52. Both the indexes logged their best day in since Nov. 11.

Indian shares advanced today, aided by high-weightage information technology (IT) and financials stocks as investors find valuations attractive after a recent correction, ahead of key economic data to gauge the path for future rate hikes.

The rise helped the benchmarks snap a three-month losing streak.

The Nifty 50 index closed 1.63% higher at 17,359.75. The S&P BSE Sensex rose 1.78% to 58,991.52. Both the indexes logged their best day in since Nov. 11.

All 13 major sectoral indexes advanced. The heavyweight financials and IT indexes jumped nearly 1.5% and 2.5%, respectively.