* NSE, BSE indexes up about 1.4 pct
* Asian shares at month high
* Nifty auto index rises to near 1-month high
By Darshana Sankararaman
Dec 8 Indian shares rose more than 1 percent on
Thursday after Wall Street hit a record high overnight and as
investors expected the European Central Bank to extend its asset
buying campaign at a policy meeting later in the day.
The gains helped domestic shares overcome declines in the
previous session after the Reserve Bank of India unexpectedly
kept interest rates unchanged despite investor concerns about
the impact of Prime Minister Modi's demonetisation drive.
Asian shares hopped to one-month highs, with MSCI's broadest
index of Asia-Pacific shares outside Japan
gaining 1.2 percent.
Lenders also gained after the RBI reversed an order that
forced banks to deposit all their extra cash with it in a bid to
absorb excess liquidity.
"Today's market move is more to do with global markets,
which are doing well," said Neeraj Dewan, director at Quantum
The broader NSE index was up 1.39 percent at
8,214.45 by 0614 GMT, with only four stocks trading in the red.
The benchmark BSE index was 1.39 percent higher at
Financial stocks were among the biggest gainers, with HDFC
Bank Ltd and State Bank of India gaining more
than 1 percent each. The Nifty bank index rose as
much as 1.24 percent, after losing 1 percent in the previous
The Nifty auto index climbed 2.61 percent to
its highest in nearly a month. Tata Motors Ltd and
Maruti Suzuki India Ltd were the biggest percentage
gainers, gaining 4.10 percent and 2.70 percent, respectively.
(Reporting by Darshana Sankararaman in Bengaluru; Editing by