BENGALURU (Reuters) – Indian shares peaked on Tuesday, with power in financial stocks as hopes of a rapid global economic recovery boosted investor sentiment across the globe.
The NSE Nifty 50 index rose 0.69% at 15,420.45 before 0400 GMT, while the S&P BSE Sensex was 0.61% higher at 52,473.10. Both indices hit the highest levels.
Kotak Mahindra Bank and HDFC Bank were the main upgrades to the Nifty 50.
Separately, the index of Nifty PSU bank that monitors state lenders jumped 2.82% after Reuters reported that the government had shortlisted four banks for possible privatization.
Boosting optimism about a recovery in growth was an S&P report that said India’s economy was on track to recover in 2021/22.
Other Asian stock markets were also trading higher, putting global shares on track to extend their bull run for the 12th consecutive session.
Reporting by Sachin Ravikumar in Bengaluru; Edited by Subhranshu Sahu