January 5, 2018 / 7:03 AM / 10 months ago

Indian shares scale new highs on global cues

* NSE index up 0.32 pct, BSE index 0.40 pct higher

* Banks extend rise, Yes Bank top pct gainer

* Nifty Metal index hits all-time high

By Tanvi Mehta

Jan 5 (Reuters) - Indian shares scaled new peaks on Friday, tracking global equity markets on the back of robust economic data.

Asian shares inched closer to a record high after a report released on Thursday showed U.S. private employers added higher-than-expected 250,000 jobs in December.

The Dow Jones Industrial Average sailed past the 25,000 mark for the first time on Thursday, while both the S&P 500 and the Nasdaq Composite notched record closing highs.

“The U.S. market is doing well and that is supporting Indian markets,” said Sumit Pokharna, deputy vice president, Kotak Securities.

The broader NSE index was up 0.32 percent at 10,538.70 as of 0602 GMT, after rising as much as 0.55 percent to a record high.

The benchmark BSE index was 0.40 percent higher at 34,103.92, after gaining as much as 0.61 percent to an all-time peak.

Both the indexes were marginally higher for the week after four straight weekly gains.

Banking stocks rose after the lower house of parliament approved the government’s plan to inject 800 billion rupees ($12.62 billion) into the sector as part of its recapitalisation plan.

Yes Bank was the top percentage gainer with a rise of as much as 5.5 percent. The Nifty PSU Bank index climbed as much as 1.1 percent after Thursday’s 2.7 percent rise.

Metal stocks also rose with the Nifty Metal index adding as much as 1.7 percent to hit a record high for a third straight session.

$1 = 63.3800 Indian rupees Reporting by Tanvi Mehta in Bengaluru; Editing by Subhranshu Sahu

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