Indian Shares Reach New Record, Boosted by Property Stock Rally
(Bloomberg) -- Indian shares touched a new high a day before the central bank’s monetary policy meeting, boosted by a rally in property developers. The benchmark Sensex and the NSE Nifty 50 indexes, which reopened after a holiday, extended Monday’s record levels.
The Sensex climbed 0.2 percent and the Nifty gained 0.3 percent at the close in Mumbai, while an index of 85 mid-sized companies posted a fifth straight all-time high.
Adani Ports & Special Economic Zone Ltd. rallied 4.7 percent to its highest close since August 2015, as it considers building a port in Malaysia. Mortgage lender Housing Development Finance Corp. dropped 2.8 percent after saying profit on investments sale will be 490 million rupees in the January-March quarter compared with 15.2 billion a year earlier.