Indian shares rise on financials, IT shares

Published: August 14, 2018 14:29:14 | Updated: August 16, 2018 09:46:07

Indian shares rose on Tuesday, in line with broader Asian peers, helped by financial and technology stocks as trade anxiety stemming from a plunge in the Turkish lira showed signs of easing.

Turkey’s lira found a moment’s respite at 6.9250 per dollar after the country’s central bank said it would provide liquidity and cut reserve requirements for banks.

Technology stocks were the biggest gainers on the NSE index, with Infosys and Tata Consultancy Services rising nearly one percent each.

Both the stocks were among the top contributors to the NSE index after the Indian rupee hit a fresh low against the dollar for a second straight day, reports Reuters.

HDFC Ltd, up 0.9 per cent, and Axis Bank, up 2.4 per cent, helped bolster the NSE bank index which rose 0.7 per cent after two days of losses.

At 0634 GMT, the broader NSE index was up 0.51 per cent at 11,414.50 while the benchmark BSE index was trading 0.43 per cent higher at 37,807.40.

ITC Ltd, up 1.2 per cent at its highest in nearly a year, was among the top gainers on the NSE index while Jindal Drilling and Industries Ltd rose as much as 16.2 per cent.


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