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Sensex, Nifty rise for sixth straight session as IndusInd Bank climbs

By Administrator_India

Capital Sands

Indian shares edged higher for a sixth straight session on Wednesday, supported by gains in IndusInd Bank Ltd after a report that a U.S.-based hedge fund was in talks to raise its stake in the private-sector lender.

The NSE Nifty 50 index rose 0.25% to 10,827.05 by 0356 GMT, while the benchmark S&P BSE Sensex was up 0.16% at 36,732.83, both hovering near four-month highs.

IndusInd Bank climbed 3.7% to a near four-week high and was the top gainer on the Nifty. U.S.-based hedge fund Route One Investment Company had started talks with the lender to raise its stake to nearly 10%.

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