Sensex posts best weekly gain in nearly three months on upbeat results

REUTERS - Indian shares rose more than 1 percent on Friday, posting their fourth straight session of gains and the best weekly jump in 12 weeks, after companies such as Bharat Petroleum Corp Ltd posted upbeat earnings.

The broader NSE Nifty closed up 1.08 percent at 8,156.65, while the benchmark BSE Sensex gained 1.09 percent to end at 26,653.60.

Both the indexes posted their biggest weekly gain since March 4.

Shares of Bharat Petroleum Corp jumped as much as 10.6 percent to a record high after the company reported upbeat March-quarter results. It closed up 9.2 percent.

Shares of State Bank of India Ltd surged 6.4 percent, the biggest daily percentage gain since March 2, after certain elements of its results including profit after tax comforted investors despite it posting worse-than-expected earnings.

 

(Reporting by Aastha Agnihotri in Bengaluru; Editing by Sherry Jacob-Phillips)