ANL 35.65 Increased By ▲ 1.33 (3.88%)
ASC 14.80 Decreased By ▼ -0.05 (-0.34%)
ASL 24.85 Increased By ▲ 0.35 (1.43%)
AVN 91.25 Increased By ▲ 1.01 (1.12%)
BOP 7.79 No Change ▼ 0.00 (0%)
BYCO 10.15 Increased By ▲ 0.10 (1%)
DGKC 124.25 Increased By ▲ 0.05 (0.04%)
EPCL 56.50 Increased By ▲ 0.20 (0.36%)
FCCL 24.16 Decreased By ▼ -0.15 (-0.62%)
FFBL 28.80 Increased By ▲ 1.20 (4.35%)
FFL 16.10 Increased By ▲ 0.05 (0.31%)
HASCOL 9.72 Decreased By ▼ -0.02 (-0.21%)
HUBC 79.25 Decreased By ▼ -0.75 (-0.94%)
HUMNL 6.63 Increased By ▲ 0.19 (2.95%)
JSCL 20.70 Increased By ▲ 0.20 (0.98%)
KAPCO 40.25 Increased By ▲ 0.04 (0.1%)
KEL 3.81 Decreased By ▼ -0.04 (-1.04%)
LOTCHEM 16.20 Decreased By ▼ -0.05 (-0.31%)
MLCF 46.49 Decreased By ▼ -0.11 (-0.24%)
PAEL 35.24 Increased By ▲ 0.14 (0.4%)
PIBTL 10.35 Increased By ▲ 0.02 (0.19%)
POWER 9.17 Decreased By ▼ -0.08 (-0.86%)
PPL 85.35 Decreased By ▼ -0.15 (-0.18%)
PRL 25.00 Decreased By ▼ -0.01 (-0.04%)
PTC 9.72 Increased By ▲ 0.17 (1.78%)
SILK 1.24 No Change ▼ 0.00 (0%)
SNGP 40.50 Increased By ▲ 1.68 (4.33%)
TRG 162.90 Decreased By ▼ -4.50 (-2.69%)
UNITY 31.05 Increased By ▲ 0.40 (1.31%)
WTL 1.42 Decreased By ▼ -0.11 (-7.19%)
BR100 4,836 Increased By ▲ 15.71 (0.33%)
BR30 25,635 Decreased By ▼ -33.99 (-0.13%)
KSE100 45,049 Increased By ▲ 70.52 (0.16%)
KSE30 18,436 Decreased By ▼ -6.45 (-0.03%)

Coronavirus
VERY HIGH
Pakistan Deaths
15,619
11824hr
Pakistan Cases
729,920
431824hr
Sindh
269,474
Punjab
252,974
Balochistan
20,397
Islamabad
66,983
KPK
100,275
Markets

Indian shares rise for third day; metals stocks jump

  • The Reserve Bank of India (RBI) on Wednesday kept interest rates at record lows and committed to a massive government bond purchase programme, helping keep share markets buoyant.
  • The NSE Nifty 50 index ended up 0.37% at 14,873, and the S&P BSE Sensex rose 0.2% to 49,746.21.
08 Apr 2021

BENGALURU: Indian shares ended up for a third straight session on Thursday, led by gains in metals and information technology stocks after the central bank's accommodative monetary policy lifted investor sentiment amid a record surge in domestic COVID-19 cases.

India's main stock indexes have been retreating from the record highs of February amid a resurgence in infections 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 and committed to a massive government bond purchase programme, helping keep share markets buoyant.

The NSE Nifty 50 index ended up 0.37% at 14,873, and the S&P BSE Sensex rose 0.2% to 49,746.21.

"It is becoming crazy for metal stocks. Everything is positive in the sector from fundamentals in China to rising prices," said AK Prabhakar, head of research at IDBI Capital in Mumbai.

Metals stocks rose 3.92%, led by a 9.2% jump in JSW Steel after the steel maker reported a 6% rise in fourth-quarter production.

Steel prices in top steelmaker China hit a record high on Wednesday on strong domestic demand.

The metals index has gained over 38% so far this year against a 6.4% rise in the broader Nifty 50 index.

The Nifty IT index that tracks software services stocks climbed 1.2% on hopes of strong earnings from companies.

Meanwhile, several Indian states struggled to contain a second surge in COVID-19 infections, complaining of vaccine shortages and demanding inoculations be expanded to younger people.