Shares in the US and Asia were boosted by a round of factory surveys from China, the euro zone and United States that pointed to more momentum in the global economy. "While positive global data could help strengthen foreign inflows which in turn could support market gains, the market is unlikely to find a big direction for now because key focus is on the budget session and upcoming earnings season," said Siddhartha Khemka, head of research at Centrum Wealth.
Corporate results are scheduled to start next week and the government's budget is due on February 1. India's services industry ended 2016 on a sour note, contracting for a second month in a row in December as orders shrank amid a severe cash shortage, according to a private business survey on Wednesday. Auto stocks contributed most to gains on the indexes, rising as much as 1.1 percent to their highest since November 11. Tata Motors and Bajaj Auto were up 2.3 percent and 1.1 percent, respectively.
Copyright Reuters, 2017