Indian shares post biggest weekly gain since end-Nov 2013

MUMBAI, Feb 28 (Reuters): Indian shares rose for a fifth consecutive session on Friday to post their strongest weekly gain in three months after blue-chips surged, including Tata Motors which rallied to a record high, on heavy buying by foreign investors.
Foreign investors have been net buyers of cash shares in each of the previous 10 sessions, with net inflows totalling around $600 million, exchange and regulatory data show.
The strong buying has allowed the benchmark BSE index to gain 2.95 per cent in February, while the NSE index ended up 3.1 per cent, their biggest monthly gain since October 2013.
Still, that was less than the 4.3 per cent gain this month in the MSCI Asia-Pacific index outside Japan, as investors regained their appetite for emerging markets after a wobbly January.
Traders said the week ahead would likely be marked by reaction to economic growth data for the October-December quarter, due after the markets close on Friday.
"Poor Q3 GDP numbers are already discounted by the market, in fact these numbers in my opinion will provide some hope for rate cuts, that in turn will help the sentiment," said G Chokkalingam, founder of research and fund advisory company Equinomics.