(Bloomberg) -- India stocks rose as investors focused on local events amid easing cross-border tensions.
The S&P BSE Sensex climbed for a third session, rising 0.4 percent to 36,572.38 as of 9:52 a.m. in Mumbai. Stocks rallied on Tuesday, led by buying in mid and small sized companies. The NSE Nifty 50 Index advanced 0.4 percent on Wednesday.
Strategist View
- “The buying spree in mid and small-cap companies is likely to continue as valuations continue to be extremely attractive,” said Chokkalingam G, managing director of Equinomics Research & Advisory Pvt. in Mumbai.
The Numbers
- All 19 sector indexes compiled by BSE Ltd. gained led by a gauge of telecom companies.
- ICICI Bank Ltd. and State Bank of India were the best performers on benchmark gauge.
- Edelweiss Financial Services Ltd. climbed as much as 12 percent after Canadian fund CDPQ agreed to invest $250 million in its non-bank finance unit.
- Dewan Housing Finance Corp Ltd. surged as much as 21 percent, the most in more than a decade, following a filing by an independent auditor on allegations made by news portal Cobrapost.
Analyst Notes/Market-Related Stories
- Kotak Asset Picks Battered Midcaps to Ride India Election Season
