BENGALURU: Indian shares snapped five sessions of losses on Wednesday and closed up over 1% as conglomerate Reliance Industries hovered near fresh peaks and auto stocks rallied, while investors awaited key corporate earnings amid concerns over runaway inflation.
The NSE Nifty 50 index closed 1.05% higher at 17,136.55 and the S&P BSE Sensex was up 1.02% at 57,037.50 following a sharp selloff late on Tuesday, after Russia said it was starting a new stage of what it calls its special military operation in Ukraine.
Both the indexes have clocked losses so far in April hurt by a recent rout in IT stocks after weak March quarter results by Infosys and Tata Consultancy Services.
On Wednesday, most of Nifty’s major sub-indexes settled higher, auto stocks led the pack and settled up 2.2%.
IT stocks which have lost roughly 11% so far in April, closed up 1.2%.
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