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Infosys : India s Sensex crosses 60,000 mark on tech, bank stocks boost
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India s Sensex crosses 60,000 mark on tech, bank stocks boost
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Sensex crosses 60,000 mark on tech, bank stocks boost
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BENGALURU, May 17 (Reuters) - Indian shares rose on Monday as market sentiment improved after domestic coronavirus cases fell below the 300,000 mark for the first time since April 21, with financials rebounding from a sharp drop in the previous session.
The NSE Nifty 50 index climbed 0.82% to 14,798.55 by 0505 GMT, up after three straight sessions of falls, while the benchmark S&P BSE Sensex advanced 0.93% to 49,191.68.
Last week, both indexes lost 0.9% after worries over higher U.S. inflation triggered a sell-off in global markets.
“The decline in the speed of new cases is helping domestic markets,” said Narendra Solanki, head of equity research (fundamental) at Anand Rathi Investment Services.
Sensex soars nearly 900 points as financial stocks rise
Sensex soars nearly 900 points as financial stocks rise
The NSE Nifty 50 index settled 1.67% higher at 14,923.15, snapping a three-session losing streak, while the benchmark S&P BSE Sensex ended up 1.74% at 49,580.73.
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UPDATED: May 17, 2021 16:28 IST
Financial stocks performed well as daily Covid-19 cases fell below three lakh for the first time since April 21. (Photo: Reuters)
The NSE Nifty 50 index settled 1.67% higher at 14,923.15, snapping a three-session losing streak, while the benchmark S&P BSE Sensex ended up 1.74% at 49,580.73.
Last week, both indexes lost 0.9% after worries over higher U.S. inflation triggered a sell-off in global markets.