Sensex, Nifty rise as Reliance, financials gain

FILE PHOTO: People walk past the Bombay Stock Exchange (BSE) building in Mumbai, India, February 28, 2020. REUTERS/Hemanshi Kamani/File photo

BENGALURU (Reuters) – Indian shares opened higher on Thursday, boosted by Reliance Industries and financial stocks, with sentiment also helped by gains in broader Asian markets.

The blue-chip NSE Nifty 50 index rose 0.56% to 14,225.80 and the benchmark S&P BSE Sensex climbed 0.56% to 48,442.48 by 0348 GMT.

Both indexes hit record highs in the first four trading sessions of the new year, helped by continued foreign fund inflows and progress on COVID-19 vaccines. Foreign investors pumped more than $20 billion into Indian equities last year, according to Refinitiv Eikon data.

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.5%, as investors looked past violence in Washington and bet on a large U.S. fiscal stimulus package after Democrat victories in Senate runoffs in Georgia.

In Mumbai trading, market heavyweight Reliance rose 0.9% and was the top boost to the Nifty 50, while the Nifty Bank Index gained 1%.

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