Indian shares ended higher on Friday, led by bank stocks, after the central bank kept interest rates steady to counter a stubbornly high inflation, while unveiling steps to boost liquidity and lending in a pandemic-hit economy.
The Nifty rose 0.67% to 11,914.20 and the Sensex gained 0.81% to 40,509.49. The indexes have added more than 4% this week.
The Reserve bank of India said it would resort to on-tap long-term repo operations and open market bond purchases among others to ensure liquidity in the banking system.
Reserve Bank of India Governor Shaktikanta Das said the country’s gross domestic product may break out of the coronavirus-induced contraction and turn positive by the fourth quarter of 2020.
