Indian shares were largely unchanged on Thursday as gains in some financial and IT stocks countered a sell-off in metals fuelled by China's decision to stabilise commodity markets.
Suedzucker, Europe's largest sugar producer, gave an upbeat outlook for its new financial year with a stronger EU sugar market expected to improve its performance.
Indian shares paused on Wednesday after two days of sharp gains as energy and financial stocks ceded ground, while Asian peers retreated over concerns of an uptick in U.S. inflation.
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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.
By Reuters Staff
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FILE PHOTO: A broker reacts while trading at his computer terminal at a stock brokerage firm in Mumbai, India, August 24, 2015. REUTERS/Danish Siddiqui
BENGALURU (Reuters) - Indian shares slipped for a third straight session on Friday and were set for their first weekly loss in three as metal stocks extended losses after a recent rally and IT majors slid.
Data released after market hours on Wednesday showed Indian inflation eased to a three-month low in April, but experts warned that lockdowns to contain the surge in coronavirus cases risk creating supply bottlenecks that could fuel price pressures in coming months.