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Indian shares headed for their best week since May 2016 amid earnings and as tensions eased between the government and the central bank over the monetary authority’s independence. An overnight drop in the price of crude also boosted sentiment.
The benchmark S&P BSE Sensex climbed 1.2 per cent to 34,841.20 as of 9:36 am in Mumbai, extending its weekly advance to 4.7 per cent. Asian Paints Ltd. -- where oil and crude derivatives constitute a major portion of input costs -- paced the rally, rising 5.3 per cent. All 19 sub-indexes compiled by BSE Ltd. advanced, led by a gauge of
