* NSE index up 0.25 pct, BSE index 0.21 pct higher
* U.S. services sector activity rises in Sept
* Bharat Petroleum hits record high
Oct 6 Indian shares rose on Thursday, tracking
gains in Asian markets, as strong U.S. services sector data and
an overnight rally in oil prices boosted sentiment, with
investor focus expected to shift to June-quarter corporate
results starting next week.
U.S. services sector activity hit an 11-month high in
September, an encouraging sign for economic growth that may
increase the prospect of a Federal Reserve rate hike this year.
October payrolls data out on Friday is expected to give a
better idea about the Fed's likely stance.
The broader NSE index was up 0.25 percent at
8,766.20 by 0642 GMT, while the benchmark BSE index was
0.21 percent higher at 28,279.12.
"Markets have taken cognizance of the fact that there are a
lot of events to look up to; taking stock of the situation is
what we are seeing now," said Anand James, chief market
strategist at Geojit BNP Paribas Financial Services.
"It looks like the focus will now be on companies'
performance and other macro cues."
An oil price rally overnight also lifted sentiment, with
Bharat Petroleum Corp Ltd rising as much as 5.19
percent to a record high, while Reliance Industries Ltd
climbed 2.80 percent.
Oil prices rose to their highest since June on Wednesday
after a fifth unexpected weekly drawdown in U.S. crude
inventories raised hopes that major producers would agree to cut
output next month.
The Nifty Energy Index climbed as much as 3
percent to its highest in more than two years, pushing up the
broader NSE index.
Among losers, Yes Bank Ltd fell 3.73 percent after
the Mint financial daily reported that a probe by India's
capital markets regulator found the company had violated
fund-raising rules. (bit.ly/2dtQEgP)
In Asia, MSCI's broadest index of Asia-Pacific shares
outside Japan rose 0.4 percent, while Japan's
Nikkei ended 0.5 percent higher.
(Reporting by Darshana Sankararaman in Bengaluru; Editing by