Sensex, Nifty extend gains on crude rally; correction seen ahead

Indian shares rose 1 percent on Friday and were headed for their second session of gains, led by energy stocks including Reliance Industries Ltd as oil prices extended their rally. Asian shares inched up while Wall Street closed at record highs overnight, after the Saudi oil minister's comments about possible action to stabilise oil prices sent crude up. "It's a pure liquidity-driven rally, with foreign flows being the only catalyst now," said Sanjeev Bhasin, executive vice president - markets a