spur demand for emerging-market assets.
The ECB lowered the deposit rate to minus 0.1% on Thursday and reduced the refinancing rate by 10 basis points to 0.15%. The MSCI Asia Pacific Index of shares rose to the highest level in more than seven months. Back home, nine out of 11 sectoral indices ended positive on Friday. BSE Realty and BSE Oil & Gas indices were top performers with 4.5-5.5% gains. However, metal and energy shares were in limelight this week driven by positive economic data and expectations of reforms measures by the new government.
Metal stocks rose about 15% in the last five trading sessions as Odisha state allowed eight iron-ore mines to reopen after the Supreme Court’s order.
Energy stocks gained 10.5% this week, bloomberg data showed.