Indian shares gain on strong earnings; Asian Paints, Infosys shine

Credit: REUTERS/HEMANSHI KAMANI

Indian shares extended gains on Tuesday, as investor sentiment remained upbeat due to strong corporate earnings and some decline in domestic cases of the novel coronavirus.

BENGALURU, May 25 (Reuters) - Indian shares extended gains on Tuesday, as investor sentiment remained upbeat due to strong corporate earnings and some decline in domestic cases of the novel coronavirus.

The blue-chip NSE Nifty 50 index .NSEI rose 0.54% to 15,270.25 by 0355 GMT, while the benchmark S&P BSE Sensex .BSESN was 0.48% higher at 50,920.06.

Infosys Ltd INFY.NS and Asian Paints Ltd ASPN.NS were the top boosts to the Nifty 50, gaining 0.86% and 2.68%, respectively.

Investors' appetite has been aided by a steady decline in daily COVID-19 cases in India. The country on Tuesday posted 196,427 new cases over the last 24 hours, its lowest daily rise in infections since April 14, while deaths rose by 3,511.

In the broader Asian markets, shares climbed following a Wall Street rally overnight, while the dollar held near a fourth-month low as investors tempered fears about inflation-driven rate hikes. MKTS/GLOB

(Reporting by Rama Venkat in Bengaluru; editing by Uttaresh.V)

((ramavenkat.raman@thomsonreuters.com; https://twitter.com/ramavenkat0607;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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