INDIAN EQUITY BENCHMARK rose as much as 2.1 percent to a
record high, and the benchmark BSE index hit its record for a
second consecutive session, as foreign investors bet big in a
country that just months ago was gripped by market turmoil.
The strong buying is confounding expectations that foreign
investors would turn cautious ahead of general elections due
to start on April 7 and conclude by mid-May.
Further, other rate-sensitive stocks rallied on expectations of a
fall in inflation after the central bank raised interest rates
aggressively since September. India's largest real estate
developer, DLF Ltd, jumped 9.7 percent.
Biggest private sector lender ICICI Bank surged 6 percent,
while State Bank of India rose 4.6 percent.
GLOBAL FACE
Asian shares rose ahead of the U.S. monthly labor report
expected to set a tone for global markets.
European stocks declined on Friday, as European Central Bank
President Mario Draghi comments on Thursday, while
investors were eyeing U.S. employment later in the day.
U.S. stock pointed to a steady open, as markets were jittery
ahead of the release of a highly-anticipated U.S. nonfarm
payrolls report later in the day.
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