Indian shares rose on Friday, tracking broader Asia, after Fed official’s comments eased worries about faster rate hikes in the United States.
The stock markets have been under pressure recently concerns that the central bank could soon move to raise interest rates to contain accelerating inflation.
The markets were also worries about the fallout from a $1.77 billion fraud that hit Punjab National Bank, reports Reuters.
Asian shares climbed, while the US benchmark 10-year note yields were last yielding 2.929 per cent.
The broader NSE index was up 0.71 per cent at 10,456.65 as of 0614 GMT, while the benchmark BSE index was 0.64 per cent higher at 34,035.57.
Both indexes were poised to end the week marginally lower.
The Nifty Pharma index rose as much as 2.8 per cent. HDFC Bank and ICICI Bank were the biggest contributors to the rise.
Federal Bank climbed as much as 5.2 per cent after the bank on Thursday approved buying a stake in financial services company Equirus Capital.