Indian shares extend winning streak to day 7; Infosys gains 3%

Indian shares extended gains for a seventh session on Friday on the back of continued buying by foreign investors in local shares.

Southeast asia stocks rise
An investor walks past an electronic board displaying live market data at a stock broker's office in central Bangkok, Thailand, August 19, 2015 Reuters

Indian shares extended gains for a seventh session on Friday on the back of continued buying by foreign investors in local shares.

Asian stocks traded mix as Japanese equities declined after a holiday, while a sudden sell-off that sent Chinese equities plunging on Thursday fizzled.

MSCI's broadest index of Asia-Pacific shares outside Japan was almost flat, while the Shanghai Composite Index was down 0.6 percent.

At 0620 GMT, the S&P BSE Sensex rose 0.25 percent at 33,671 while the broader NSE Nifty edged up 0.33 percent to 10,383.

Overseas investors have invested $2.4 billion so far this month, which is the highest since March.

Among the top Sensex gainers, Infosys rose 2.5 percent, Mahindra & Mahindra advanced 1.1 percent, Bajaj Auto added 1 percent while Cipla rose 0.8 percent.

The S&P BSE Information Technology Index gained 1 percent and was among the top sectoral gainers.

Vakrangee rose 1.2 percent after a block deal. Around 2.6 million shares or 0.5 percent stake of the company changed hands in a block deal, according to a Bloomberg report.

RBL Bank jumped 3 percent after a block deal.

Cox and Kings added 2.5 percent after its arm Meininger signed an agreement with Peter Simmel to open hotel in Dresden, Germany.

But Star Paper Mills lost 4 percent after the company said its net profit fell 6.4 percent in the September-quarter.

Kesar Terminals & Infrastructure declined 4 percent after the company reported an 18 percent decline in its net profit.

Market breadth was in the favour of gainers, with about 2 stocks advancing to every 1 stock that declined.

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