Indian shares rise on downward trend in COVID-19 cases
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Summary:
BENGALURU — Indian shares extended gains on Tuesday, as investors took hope from a downward trend in daily COVID-19 cases while taking cues from a global rally in equities.
The blue-chip NSE Nifty 50 index rose 0.18% to 15,611.30 by 0345 GMT, while the benchmark S&P BSE Sensex climbed 0.19% to 52,026.39. Both the indexes closed 1% higher on Monday, building up on gains posted last week.
“The ongoing bull run in the market has taken even the incorrigible optimists by surprise,” said V K Vijayakumar, chief investment strategist at Geojit Financial Services.
India on Tuesday reported its lowest daily increase in new infections since April 8 at 127,510, and staying below the 200,000-mark for the fifth day.
Meanwhile, the country’s economic growth picked up to 1.6% year-on-year in the ...
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