September 28, 2017 / 10:39 AM / a year ago

Indian shares snap longest losing streak in 2017; financials gain

(Reuters) - Indian shares ended higher on Thursday, snapping their longest losing streak so far this year, as financials gained ahead of the expiry of derivative contracts.

FILE PHOTO: The Bombay Stock Exchange (BSE) logo is seen at the BSE building in Mumbai, India, January 25, 2017. REUTERS/Shailesh Andrade

The BSE index .BSESN rose 0.39 percent to end at 31,282.48, while the broader NSE index .NSEI ended 0.34 percent higher at 9,768.95. Both indexes had fallen in the previous seven sessions, marking their longest losing run since mid-December.

FILE PHOTO: A NSE (National Stock Exchange) building is seen in Mumbai, India, July 11, 2017. REUTERS/Danish Siddiqui

“Short-covering ahead of the F&O expiry gave muscle to relief rallies,” said Anand James, chief market strategist, Geojit Financial Services Ltd.

Financial stocks such as HDFC Bank Ltd (HDBK.NS) and Kotak Mahindra Bank Ltd (KTKM.NS) were among the top gainers, ending 1.06 percent and 2.62 percent higher, respectively.

For midday report, click

Reporting by Vishal Sridhar in Bengaluru; Editing by Amrutha Gayathri

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