Indian shares close 1.0pc higher

Indian shares ended 1 per cent higher on Friday, reversing two sessions of losses, on gains in financial and consumer stocks, buoyed by a favourable weather forecast for the remainder of the monsoon. The benchmark BSE index closed up 1.05 per cent at 37,556.16 after losing close to 500 points in the last two sessions. For the week, the index ended 0.6 per cent higher. The broader NSE index ended 1.03 per cent higher at 11,360.8, and gained 0.73 per cent for the week. It had lost nearly 1 per cent in the previous two sessions. Index heavyweight Housing Development Finance Corp closed up 2.5 per cent, after raising its retail prime lending rate by 20 basis points a day earlier. It had shed 4.8 per cent in the previous three sessions. Consumer major ITC Ltd ended 1.6 per cent higher.

— Reuters