Indian shares extend gains ahead of RBI rate decision

Business Recorder reported that Indian equities extended their gains on Tuesday, with banks and the fashion retailer Trent leading the advance. Trent climbed 12.6% after guiding to standalone revenue growth of 23% for the September quarter, measured against a year earlier. Buying was supported by encouraging global signals ahead of a central bank policy meeting scheduled for the following day.

The Nifty 50 gained 0.98% to finish at 22,776.10, while the Sensex added 0.95% to 73,067.81. The two indexes had edged up roughly 0.6% in the prior session, a rebound from the lengthiest run of weekly declines in 25 years. Of the 16 major sectors, 14 advanced, while small-cap and mid-cap shares rose 1.6% and 1.1%.

Financial stocks were lifted by lenders including Axis Bank, up 2.1%, and Kotak Mahindra Bank, which jumped 3.8% after reporting higher advances and deposits. Reliance Industries added 2.7%, extending its two-session gain to 4.3%, ahead of Jio Platforms' likely listing, which is expected later this month. Separately, Brent crude slipped about 2% to below $100 a barrel on higher Middle East oil exports and a G7 pledge to lift supplies.