ANL 36.55 Increased By ▲ 0.90 (2.52%)
ASC 14.80 No Change ▼ 0.00 (0%)
ASL 26.10 Increased By ▲ 1.25 (5.03%)
AVN 90.90 Decreased By ▼ -0.35 (-0.38%)
BOP 7.80 Increased By ▲ 0.01 (0.13%)
BYCO 10.21 Increased By ▲ 0.06 (0.59%)
DGKC 125.20 Increased By ▲ 0.95 (0.76%)
EPCL 57.50 Increased By ▲ 1.00 (1.77%)
FCCL 24.35 Increased By ▲ 0.19 (0.79%)
FFBL 28.80 No Change ▼ 0.00 (0%)
FFL 16.05 Decreased By ▼ -0.05 (-0.31%)
HASCOL 9.79 Increased By ▲ 0.07 (0.72%)
HUBC 79.00 Decreased By ▼ -0.25 (-0.32%)
HUMNL 6.77 Increased By ▲ 0.14 (2.11%)
JSCL 21.81 Increased By ▲ 1.11 (5.36%)
KAPCO 40.10 Decreased By ▼ -0.15 (-0.37%)
KEL 3.83 Increased By ▲ 0.02 (0.52%)
LOTCHEM 16.61 Increased By ▲ 0.41 (2.53%)
MLCF 47.15 Increased By ▲ 0.66 (1.42%)
PAEL 35.23 Decreased By ▼ -0.01 (-0.03%)
PIBTL 10.35 No Change ▼ 0.00 (0%)
POWER 9.25 Increased By ▲ 0.08 (0.87%)
PPL 86.02 Increased By ▲ 0.67 (0.79%)
PRL 25.32 Increased By ▲ 0.32 (1.28%)
PTC 10.01 Increased By ▲ 0.29 (2.98%)
SILK 1.24 No Change ▼ 0.00 (0%)
SNGP 42.05 Increased By ▲ 1.55 (3.83%)
TRG 164.75 Increased By ▲ 1.85 (1.14%)
UNITY 30.76 Decreased By ▼ -0.29 (-0.93%)
WTL 1.48 Increased By ▲ 0.06 (4.23%)
BR100 4,873 Increased By ▲ 37.38 (0.77%)
BR30 25,848 Increased By ▲ 213 (0.83%)
KSE100 45,311 Increased By ▲ 262.65 (0.58%)
KSE30 18,544 Increased By ▲ 107.94 (0.59%)

Coronavirus
VERY HIGH
Pakistan Deaths
15,754
13524hr
Pakistan Cases
734,423
468124hr
Sindh
269,840
Punjab
255,571
Balochistan
20,499
Islamabad
67,491
KPK
101,045
Markets

Indian shares climb for third day; metals, software stocks gain

  • The Nifty IT index that tracks software services stocks climbed 1.74% as the rupee weakened after the RBI's announcement of the bond-buying programme.
08 Apr 2021

BENGALURU: Indian shares rose for a third straight session on Thursday, as metals and software services stocks led a broad-based advance after the country's central bank kept its monetary policy accommodative to support economic growth.

India's main stock indexes have been retreating from the record highs of February amid a resurgence in COVID-19 cases that has spurred curbs in some states and threatened to derail a nascent economic recovery. Infections jumped by another daily record on Thursday.

The Reserve Bank of India (RBI) on Wednesday kept interest rates at record lows but committed to a massive government bond purchase programme, helping keep share markets buoyant.

"The RBI has taken some radical measures, which is helping keep markets afloat today," Deepak Jasani, head of retail research at HDFC Securities in Mumbai, said.

"It is continuing on a dovish path, and it is playing all its cards one after the other, to provide sufficient liquidity in the system and to keep interest rates under control."

The NSE Nifty 50 index rose 0.83% to 14,940.95 by 0500 GMT, while the S&P BSE Sensex was up 0.81% at 50,065.72. All 14 sectoral indexes were higher.

The Nifty IT index that tracks software services stocks climbed 1.74% as the rupee weakened after the RBI's announcement of the bond-buying programme.

Earnings of export-reliant software services stocks tend to benefit from a weaker local currency. Infosys and Tata Consultancy Services were up more than 1% each.

Metals stocks rose 1.6%. Hindalco and Tata Steel were among the top gainers on the Nifty 50, rising about 2% each as steel prices in China hovered around a record high.

Other Asian share markets were largely flat but S&P 500 futures climbed 0.3% to a new peak after a dovish outlook from the Federal Reserve.