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Infosys fuels India share rally for fourth day

MUMBAI (NewsRise) -- Indian shares rose for a fourth consecutive day, as the nation's second-largest software exporter Infosys extended gains after one of its co-founders was named chairman after a top management shakeup.

The BSE Sensex rose 0.5%, or 154.76 points, to 31,750.82 on Monday, while the broader NSE index added 0.6%, or 55.75 points, to close at 9,912.80. Infosys rose 3.1%, leading the gains on the gauge, as investors appeared to take comfort from signs that tensions between the board and founders were poised to end after co-founder and former chief executive officer Nandan Nilekani was named non-executive chairman on Friday. The news came one week after Infosys announced its CEO Vishal Sikka was leaving the company. Indian financial markets were closed on Friday for a local holiday.

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