Published On: Tue, Mar 2nd, 2021

Indian shares extend gains as lenders, IT stocks advance

BENGALURU (Reuters) – Indian shares rose for a second straight session on Tuesday, with the Sensex crossing the 50,000 mark again on the back of a rally in financial and IT stocks.

A man reacts as he looks at a screen displaying the Sensex results on the facade of the Bombay Stock Exchange (BSE) building in Mumbai. (Photo/Reuters)

The NSE Nifty 50 index rose 0.8% to 14,880.10 by 0355 GMT, about 120 points short of the 15,000 level that it last touched on Feb. 25.

The S&P BSE Sensex firmed 0.78% to 50,225.63, revisiting a level that it rose above 16 times in February.

Both the indexes jumped over 1.5% on Monday as a halt in the recent bond markets sell-off helped riskier assets recover from last week’s turmoil, while an expansion of a vaccination drive at home and upbeat domestic economic growth also supported sentiment.

Asian shares were broadly higher on Tuesday, with MSCI’s broadest index of Asia-Pacific shares outside Japan rising 0.97%.

In domestic trading, lender HDFC Bank and IT firm Infosys were the top boosts to the Nifty, rising more than 1.5% each.

Meanwhile, newspapers here cited the Finance minister Nirmala Sitharaman as saying that the unexpected technical glitch that halted trading at the National Stock Exchange last Wednesday had cost the government “immensely.”

Disclaimer :- This story has not been edited by The Sen Times staff and is auto-generated from news agency feeds. Source: Reuters

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