India's benchmark stock indices snapped a three-day losing streak and closed higher, led by HDFC Bank Ltd., Reliance Industries Ltd. and Infosys Ltd.
The S&P BSE Sensex closed 480.57 points, or 0.74%, higher at 65,721.25, while the NSE Nifty 50 advanced 135.35 points, or 0.7%, to end at 19,517.
The information and technology and telecommunication sectors advanced, while utilities and auto were under pressure.
The S&P 500 halted a two-day rally, failing to stay above the closely watched level of 4,200. The $3.2 billion SPDR S&P Regional Banking exchange-traded fund slumped almost 2% on a news report that U.S. Treasury Secretary Janet Yellen told the chiefs of large lenders that more mergers might be needed, according to Bloomberg.
HDFC Bank Ltd., Reliance Industries Ltd., Infosys Ltd., Bharti Airtel Ltd., and ICICI Bank Ltd. were positively contributing to the changes in the Nifty.
State Bank of India., Bajaj Auto Ltd., NTPC Ltd., Maruti Suzuki India Ltd., and Bharat Petroleum Corp. weighed on the index.
The broader indices underperformed the benchmark indices, with the S&P BSE Midcap closing 0.65% higher and the S&P BSE SmallCap ending 0.66% higher.
The market breadth was skewed in favour of the bulls. About 2,237 stocks advanced, 1,332 declined, and 151 remained unchanged.
On a weekly basis, the Sensex and Nifty were lower by 0.66% each.
On a sectoral basis, Nifty IT, Pharma, and Smallcap 100 gained the most, while Nifty Realty, PSU Bank, and FMCG declined.
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