Indian Shares Near Record Highs As Daily COVID-19 Cases Decline
New Delhi: As the number of COVID-19 infections are in the downward trend, Indian shares inched higher on Monday and raised hopes of more easing of lockdowns across the country.
The blue-chip NSE Nifty 50 index rose 0.25% at 15,709.20 and the benchmark S&P BSE Sensex was up 0.15% at 52,171.70 by 9:17 am, led by metal stocks and public sector banks.
Both the indexes last week gained more than 1% to notch their third straight week of gains.
The Nifty PSU Bank Index, which tracks state-run banks, was up 0.85%, and the Nifty Metal Index gained 1.44%.
The country has continued to see a decline in daily COVID-19 cases, with data from the health ministry over the weekend showing the daily rise in cases stayed below the 200,000 mark for more than a week.