Indian shares eked out modest gains on Friday to extend gains for a second day running.

Healthy buying was seen in banking and metal stocks, while heavyweight Reliance Industries extended losses after announcing plans to enter green energy business.

The benchmark 30-share BSE Sensex rose 226.04 points, or 0.43 percent, to 52,925.04, while the broader NSE Nifty index ended up 72.55 points, or 0.46 percent, at 15,863.

Metal stocks surged on the back of higher commodity prices. Tata Steel surged 4.6 percent, SAIL jumped 5 percent, Vedanta rallied 4.4 percent, Hindalco added 1.8 percent and JSW Steel advanced 1.4 percent.

Banks also performed well, with ICICI Bank, SBI and Axis Bank climbing 2-3 percent.

Apollo Hospitals Enterprise soared 7 percent after it announced the creation of India’s largest omni-channel digital health platform.

Thermax jumped 5.2 percent after its wholly-owned subsidiary Thermax Babcock and Wilcox Energy Solutions won a Rs 250 crore order in Latin America.

On the losing side, heavyweight Reliance Industries fell 2.4 percent to extend Thursday’s losses as the AGM announcements fell short of heightened Street expectations.

Investors were also disappointed by Mukesh Ambani’s ambitious new energy plans that will see the company invest Rs 75,000 crore over the next three years.

The material has been provided by InstaForex Company – www.instaforex.com

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