IndiaIndian shares rise as financials rebound, daily COVID-19 cases fall
Anuron Mitra
3 minute read
Indian shares gained on Friday, helped by a rebound in financial stocks ahead of State Bank of India s quarterly results, and as new coronavirus infections remained below the 300,000 mark for a fifth straight day.
By 0505 GMT, the blue-chip NSE Nifty 50 index (.NSEI) had gained 1.17% to 15,080.95, while the benchmark S&P BSE Sensex (.BSESN) was up 1.23% at 50,174.02.
Daily coronavirus cases in India have fallen over the past few days after hitting a record of more than 414,000 earlier this month. Chances are very high now that lockdown restrictions in most states will start going away, said Gaurav Garg, head of research, CapitalVia Global Research.
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