Nifty touches life high of 9600, BSE benchmark breaches 31,000

Indian shares surged on Friday as foreign funds pumped in more money on hopes of faster reforms and as companies came up with encouraging earnings results.

Investors took comfort from the new June derivatives series that indicates that shares are set to rise further as a normal



monsoon forecast boosts earnings of India Inc in coming quarters.

A slower-than-expected hike in interest rates by the US Federal Reserve and a risk-on mode triggered after OPEC decided to extend the oil output cut to March 2018 boosted sentiment across the world.