People watch the Sensex on a screen outside Bombay Stock Exchange (BSE) in Mumbai. (PTI)
People watch the Sensex on a screen outside Bombay Stock Exchange (BSE) in Mumbai. (PTI)

Indian shares extend gains as lenders, IT stocks advance

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.
Reuters | | Posted by Prashasti Singh
UPDATED ON MAR 02, 2021 09:52 AM IST

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.

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 https://economictimes.indiatimes.com/markets/stocks/news/fm-nse-glitch-cost-govt-immensely/articleshow/81280212.cms 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."

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