Indian Stocks Rise 3rd Day; Exporters Lead Gains After U.S. Data
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Indian stocks rose for a third day, with the benchmark index holding at a two-year high. Software exporters climbed as an expansion in U.S. manufacturing boosted investor confidence in the world’s largest economy.
The BSE India Sensitive Index, or Sensex, rose 0.3 percent to 19,764.78 at the close in Mumbai. The 30-stock gauge ended at its highest level since Jan. 6, 2011 yesterday. A measure of software makers on the MSCI India Index jumped to a one-month high after manufacturing in the U.S. grew more-than-expected in December. Dr. Reddy’s Laboratories Ltd., which earns about 40 percent of its revenue from North America, jumped 2.4 percent.