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The NSE Nifty is up around 6.9 percent so far this month, headed for its biggest gain since October 2013. For the quarter, the index is up around 6.5 percent, its second consecutive monthly increase after a 9.9 percent rise in October-December.
Foreign institutional investors bought Indian shares worth 13.63 billion rupees on Friday, provisional exchange data showed. Overseas investors have so far ignored everything negative globally, with overseas funds purchasing a net $3.2 billion so far this month, exchange and regulatory data showed.
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Experts feel RBI is likely to hold the interest rates. "The likelihood of the RBI keeping its interest rate stance on hold could boost the market sentiment further," Standard Chartered Securities said in its morning note.
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Among sectoral indices, the BSE Consumer Durables (2.74%), BSE Metal (1.24%) and BSE Realty (0.95%) were the major gainers. Bharti Airtel (1.86%), Hindalco Industries Ltd (1.73%) and Tata Steel (1.31%) were trading higher on the 30-share Sensex.
Among Asian indices, the Nikkei (0.64%), Hang Seng (0.28%), Straits Times (0.51%) and Jakarta Composite (0.96%) were the major gainers. (With agency inputs)