Sensex, Nifty rise as investors digest Fed’s new inflation stance

Indian shares rose on Friday, led by financial stocks, as investors digested the U.S. Federal Reserve’s policy shift to tolerate higher inflation in order to boost economic growth.

The NSE Nifty 50 index rose 0.45% to 11,611.70 by 0355 GMT, while the S&P BSE Sensex was 0.49% higher at 39,305.70. The Nifty 50 was on course to gain for a sixth straight session.

The top two boosts on the Nifty 50 were private sector banks Axis and ICICI.

Shares in Future Enterprises Ltd jumped 5% and hit an upper price limit after a report here that the group was close to finalising the sale of its retail business to conglomerate Reliance Industries Ltd.

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