Sensex, Nifty Rise As Government Names MPC Nominees, HDFC Bank Gains

Indian shares rose on Tuesday, helped by the government's decision to name nominees to the central bank's monetary policy committee and as the country's biggest private lender HDFC Bank reported strong loan growth.

The NSE Nifty 50 index rose 0.82% to 11,597.55 and the S&P BSE Sensex gained 0.91% to 39,327.14.

The government named three nominees on the Reserve Bank of India's key monetary policy committee late on Monday, paving the way for the central bank to hold its bi-monthly committee meeting, which has been delayed once.

The Nifty Bank index rose 1.35%. Shares in HDFC Bank gained 1.95%, the most on the Nifty 50, after the lender said advances aggregated to about 10.37 trillion rupees as of Sept. 30.

(Reuters)