October 30, 2019 / 10:26 AM / 20 days ago

Indian shares climb to multi-month closing highs; state-run banks rally

BENGALURU, Oct 30 (Reuters) - Indian shares rose to multi-month closing highs on Wednesday as a raft of upbeat quarterly earnings reports helped boost investor sentiment, with financials leading gains.

The broader NSE index closed 0.49% higher at 11,844.10, its highest since July, while the benchmark BSE index settled up 0.55% at 40,051.87, its highest since June.

The Nifty PSU Bank index, which tracks the country’s state-run lenders, added over 4%, with all 12 stocks finishing in the green.

United Bank of India surged nearly 20% after the lender posted strong quarterly results.

Reliance Industries Ltd, India’s most valuable company, rose over 1% to settle at a record high.

Both Maruti Suzuki India Ltd and Yes Bank Ltd finished the session over 2% lower and were among the top percentage losers on both the indexes. (Reporting by Chandini Monnappa in Bengaluru; Editing by Subhranshu Sahu)

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