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Sensex rises, posts longest gaining streak since December

Reuters
People look at a screen displaying the Sensex results on the facade of the Bombay Stock Exchange (BSE) building in Mumbai, December 11, 2018. REUTERS/Francis Mascarenhas/Files (Reuters)

(Reuters) - Indian shares rose for a seventh consecutive session on Tuesday, their longest winning streak since mid-December, boosted by gains in Energy and financial stocks.

Stocks have been on an upswing on expectations that the incumbent government would return to power after the general election starting next month.

The benchmark BSE Sensex closed 0.70 percent higher at 38,363.47, while the broader NSE Nifty rose 0.61 percent to 11,532.40.

Reliance Industries Ltd settled nearly 2 percent higher, while Axis Bank gained 1.2 percent.

Larsen & Toubro was the biggest drag on the index, falling as much as 2.4 percent to its lowest in a week.

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Mumbai-based L&T said it would buy a 20.32 percent stake in Mindtree Ltd and aimed for a much bigger stake via market deals and an open offer.

(Reporting by Chandini Monnappa in Bengaluru; Editing by Shreejay Sinha)