Indian shares rebound from virus-induced sell-off; metals gain

BENGALURU (Reuters) – Indian shares rebounded on Tuesday from a sharp sell-off in the previous session, as metals stocks gained and investor sentiment remained upbeat globally after strong U.S. economic data.

A woman walks past the Bombay Stock Exchange (BSE) building in Mumbai, India. (Photo/Reuters)

The NSE Nifty 50 index was up 0.62% at 14,726.10 by 0400 GMT, while the S&P BSE Sensex was 0.52% higher at 49,419.18. The indexes had fallen about 1.5% each on Monday as India reported a record daily surge in coronavirus infections.

Stocks across most sectors were higher on Tuesday. Metals led the gains with a 1.62% advance. JSW Steel, up 3.7%, was the top gainer on the Nifty 50.

Separately, investors await the outcome of the Indian central bank’s monetary policy committee meeting on Wednesday.

Shares elsewhere in Asia were higher after another batch of strong U.S. economic data boosted the prospects for an economic recovery.

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