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Indian shares end higher as Reliance gains; inflation data in focus
  + stars: | 2021-06-14 | by ( Reuters Staff | ) www.reuters.com sentiment -1.00   time to read: +2 min
REUTERS/Francis Mascarenhas/File PhotoBENGALURU (Reuters) - Indian shares closed higher on Monday, boosted by conglomerate Reliance Industries Ltd and software major Infosys Ltd, while investors eyed more inflation data due later in the day. The blue-chip NSE Nifty 50 index ended 0.08% higher at 15,811.85, while the benchmark S&P BSE Sensex rose 0.15% to 52,551.53 at close. In Mumbai trading, Reliance Industries and Infosys were among the top performers on the Nifty 50, gaining 1.4% and 0.9%, respectively. Reliance shares have gained in five of the last eight sessions. Limiting gains was top Nifty 50 loser Adani Ports and Special Economic Zone Ltd, which slumped 8.5%.
Persons: Francis Mascarenhas, Lupin Organizations: REUTERS, Reliance Industries Ltd, Infosys Ltd, BSE, Reliance Industries, Infosys, Reliance, Economic, Ltd, National Securities Depository Ltd, Economic Times, Adani Enterprises, U.S . Food, Drug Administration, U.S Locations: Mumbai, India, BENGALURU, U.S, New Jersey, U.S . Federal
Indian shares close at record high as COVID-19 curbs ease
  + stars: | 2021-06-11 | by ( Reuters Staff | ) www.reuters.com + 0.89   time to read: +2 min
BENGALURU (Reuters) - Indian shares ended at a record high on Friday, gaining for a fourth consecutive week as more states eased pandemic restrictions, with investors seeming confident that high U.S. inflation was transitory following the latest reading. FILE PHOTO: People walk past the Bombay Stock Exchange (BSE) building in Mumbai, India, November 4, 2020. REUTERS/Francis Mascarenhas/File photoThe blue-chip NSE Nifty 50 index rose 0.39% to 15,799.35 and the benchmark S&P BSE Sensex closed 0.33% higher at 52,474.76. The southern Indian state of Karnataka, home to the tech hub Bengaluru, announced on Thursday it would ease some COVID-19 restrictions in a phased manner. The country’s richest state Maharashtra, Prime Minister Narendra Modi’s home state of Gujarat and the Indian capital New Delhi have already announced relaxations.
Persons: Francis Mascarenhas, ” Amar Ambani, Narendra Modi’s Organizations: Bombay Stock Exchange, REUTERS, BSE, Yes Securities, Reliance Industries Ltd, Infosys Ltd, Tata Consultancy Services, Steel Authority of India Ltd Locations: BENGALURU, Mumbai, India, Karnataka, Bengaluru, Maharashtra, Gujarat, New Delhi
Indian shares open higher as IT, energy firms gain
  + stars: | 2021-06-10 | by ( Reuters Staff | ) www.reuters.com sentiment -0.58   time to read: +1 min
FILE PHOTO: A man walks past the Bombay Stock Exchange (BSE) building in Mumbai, India, March 6, 2020. REUTERS/Francis Mascarenhas/File photoBENGALURU (Reuters) - Indian shares rose on Thursday, with information technology and energy companies gaining the most, as investors awaited U.S. inflation data and the outcome of a European Central Bank meeting later in the day. The blue-chip NSE Nifty 50 index was up 0.35% at 15,681.80 and the benchmark S&P BSE Sensex rose 0.30% to 52,103.55 by 0346 GMT. Reliance Industries Ltd, Infosys Ltd and Tata Consultancy Services Ltd were among the top boosts to the Nifty 50, gaining between 0.7% and 0.8%. The Nifty IT index, which has gained 2% so far this week, was up 0.89%.
Persons: Francis Mascarenhas Organizations: Bombay Stock Exchange, REUTERS, European Central Bank, BSE, Reliance Industries Ltd, Infosys Ltd, Tata Consultancy Services, Federal Locations: Mumbai, India, BENGALURU, U.S
Financials boost Indian shares; U.S. inflation data eyed
  + stars: | 2021-06-10 | by ( Reuters Staff | ) www.reuters.com sentiment -0.99   time to read: +1 min
FILE PHOTO: A man walks past the Bombay Stock Exchange (BSE) building in Mumbai, India, March 6, 2020. REUTERS/Francis Mascarenhas/File photoBENGALURU (Reuters) - Indian shares closed up on Thursday, boosted by heavyweight financials stocks, with investors eyeing U.S. inflation data to gauge the Federal Reserve’s stance on trimming stimulus measures. The blue-chip NSE Nifty 50 index rose 0.65% to 15,737.75 and the benchmark S&P BSE Sensex climbed 0.69% to 52,300.47 at close. The Nifty PSU Bank Index, which tracks state-run banks, was a top performer among other sub-indexes with a 2.40% gain at close. Shares of Infosys Ltd, which have risen in five of the last eight trading sessions, rose 0.6%, lifting the Nifty IT index up 0.94%.
Persons: Francis Mascarenhas Organizations: Bombay Stock Exchange, REUTERS, BSE, Federal, Investors, European Central Bank, Bajaj Finance Ltd, State Bank of India, HDFC, Infosys Ltd Locations: Mumbai, India, BENGALURU, U.S
REUTERS/Francis Mascarenhas/File photoBENGALURU (Reuters) - Indian shares edged up on Tuesday, extending gains from a record high close in the previous session, as the government offered free COVID-19 vaccines to all adults, boosting sentiment as parts of the country ease restrictions. Both the indexes closed at a record high on Monday, bolstered by hopes that the economy would pick up as some states eased COVID-19 lockdowns. India will provide free COVID-19 vaccines to all adults, Prime Minister Narendra Modi said on Monday after markets closed, in an effort to rein in a pandemic that has killed hundreds of thousands. Technology stocks boosted the Nifty 50 index, with software services firms Infosys Ltd and Tata Consultancy Services Ltd rising 1.1% and 0.8%, respectively. The Nifty IT index was up 1.1%, hitting a record high and leading gains among other subindexes.
Persons: Francis Mascarenhas, Narendra Modi Organizations: Bombay Stock Exchange, REUTERS, BSE Sensex, Infosys Ltd, Tata Consultancy Services Locations: Mumbai, India, BENGALURU, COVID
Indian shares erase gains as global inflation worries weigh
  + stars: | 2021-06-08 | by ( Rama | ) www.reuters.com sentiment -1.00   time to read: +2 min
REUTERS/Francis Mascarenhas/File photoThe blue-chip NSE Nifty 50 index fell 0.20% to 15,716.40 and the benchmark S&P BSE Sensex was down 0.18% at 52,243.87 by 0541 GMT. “Markets are at slightly elevated valuations and seeing routine profit taking due to global inflation worries,” said Anita Gandhi, director at Arihant Capital Markets. Investors are awaiting U.S. inflation data due later this week for clarity on tapering of policy support from the Federal Reserve. Top private-sector lender HDFC Bank Ltd and conglomerate Reliance Industries Ltd were among the top drags to the Nifty 50 index, falling 1% and 0.8%, respectively. The Nifty PSU Bank Index, which tracks state-owned banks, fell 1.72% and the Nifty Bank Index was down 1.04%.
Persons: Francis Mascarenhas, , Anita Gandhi Organizations: Bombay Stock Exchange, REUTERS, BSE, Arihant, Markets, Investors, Federal Reserve, European Central Bank, HDFC Bank Ltd, Reliance Industries, Nifty, Infosys Ltd, Tata Consultancy Services Locations: BENGALURU, financials, Mumbai, India
Indian shares close higher as IT, financial stocks gain
  + stars: | 2021-05-26 | by ( Reuters Staff | ) www.reuters.com + 0.96   time to read: +1 min
BENGALURU, May 26 (Reuters) - Indian shares ended higher on Wednesday, riding on gains in information technology and financial stocks as sentiment was bolstered by a steady drop in COVID-19 cases. The blue-chip NSE Nifty 50 index closed 0.61% higher at 15,301.45, while the benchmark S&P BSE Sensex rose 0.75% to 51,017.52. Software services giant Infosys Ltd and mortgage lender HDFC Ltd were among the biggest boosts to the Nifty 50, gaining 2.6% and 1.5% at close, respectively. The Nifty IT Index ended 1.76% higher. Among stock losers, Nifty component Bharat Petroleum Corporation Ltd closed 0.5% lower ahead of its March-quarter earnings.
Persons: Rama Venkat, Vinay Dwivedi Organizations: BSE, U.S, Federal, Software, Infosys Ltd, HDFC, Bharat Petroleum Corporation Ltd Locations: BENGALURU, COVID, India, Bengaluru
Global Companies Retool as Covid-19 Surge Hits India’s Tech Talent
  + stars: | 2021-05-26 | by ( Angus Loten | ) www.wsj.com + 0.00   time to read: +6 min
Fairfax, Va.-based software company 3Pillar Global Inc. said that 70 of 342 workers at its Noida, India, office have been infected with Covid-19 since April. Nearly all Fortune 500 companies in the first quarter of the year had some level of exposure to India’s Covid-19 crisis in their IT operations, according to consulting firm Hackett Group Inc. Many global companies procure tech workers through India’s giant outsourcing firms, including Tata Consultancy Services Ltd. , Infosys Ltd. and Wipro Ltd. , along with smaller IT service providers. Related Video India's Covid-19 crisis has resulted in record numbers of cases and deaths. In India, nearly all the company’s workers who had Covid-19 are back on the job, working from home.
Persons: , Dave Sawatzky, Sawatzky, , Dion Hinchcliffe, Mr, Hinchcliffe, India’s, Hackett, Jaideep Thyagarajan, Charlie Giancarlo, Giancarlo, Samuel Rajkumar, Jon Butler, , 3Pillar, Angus Loten Organizations: 3Pillar Global Inc, Inc, 3Pillar, Constellation Research Inc, Fortune, Hackett Group Inc, Tata Consultancy Services Ltd, Infosys Ltd, Wipro Ltd, Gartner Inc, Reuters, StrategyShore Locations: India, Fairfax, Va, Noida, Mexico, Costa Rica, Guatemala, Romania, Delhi, Covid, U.S, Calif
Indian shares gain on strong earnings; Asian Paints, Infosys shine
  + stars: | 2021-05-25 | by ( Reuters Staff | ) www.reuters.com sentiment -0.99   time to read: +1 min
FILE PHOTO: The Bombay Stock Exchange (BSE) building is pictured next to a police van in Mumbai, India, August 24, 2015. REUTERS/Danish SiddiquiBENGALURU (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 rose 0.54% to 15,270.25 by 0355 GMT, while the benchmark S&P BSE Sensex was 0.48% higher at 50,920.06. Infosys Ltd and Asian Paints Ltd 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.
Persons: Siddiqui Organizations: Bombay Stock Exchange, REUTERS, BSE, Infosys Ltd, Asian Paints Ltd Locations: Mumbai, India, Siddiqui BENGALURU, COVID
India’s Covid-19 Crisis Tests the World’s Back Offices
  + stars: | 2021-05-22 | by ( Newley Purnell | ) www.wsj.com sentiment -0.98   time to read: +1 min
India’s giant outsourcing firms are facing a two-front challenge: protecting the health of millions of employees as the nation suffers the world’s worst Covid-19 crisis, and ensuring that their work continues as usual for the big Western companies on their client lists. “I don’t think anyone can downplay the challenge,” said Sandip Patel, International Business Machines Corp.’s managing director for India. IBM is working to vaccinate its 100,000-plus staff in India, and providing them with services such as medically supervised quarantining in hotels. “What we’re going through right now has no management or operational playbook,” Mr. Patel said. India has logged more than 25 million Covid-19 infections and over 280,000 deaths; months earlier, it appeared the nation had contained a first surge of the virus.
Persons: , Sandip Patel, Mr, Patel Organizations: Companies, Infosys Ltd, Wipro Ltd, Tata Consultancy Services Ltd, TCS, Bank of America Corp, Citigroup Inc, , Citibank, Vanguard Group, International Business Machines Corp, India, IBM Locations: India
Sensex, Nifty end higher on IT, Reliance boost
  + stars: | 2021-01-20 | by ( Sethuraman N R | ) www.reuters.com + 0.86   time to read: +2 min
The blue-chip NSE Nifty 50 index closed 0.85% up at 14,644.70, while the benchmark S&P BSE Sensex added 0.8% to end at 49,792.12. The Nifty and Sensex ended the previous session more than 1% higher. Reliance Industries rose 1.9% and was the top boost to the Nifty 50 index. The Nifty IT index added 2.2%, the top boost to the Nifty index, with Infosys Ltd and Tata Consultancy Ltd rising 1.7% and 1.5%, respectively. The index gained about 55% in 2020 and about 9.8% so far this year.
Persons: Francis Mascarenhas, Janet Yellen’s, Sensex, Yellen, , Ajit Mishra, Mishra Organizations: Bombay Stock Exchange, REUTERS, Reliance Industries, U.S, Treasury, BSE, Infosys Ltd, Tata Consultancy, Tata Motors, Maruti Suzuki Ltd Locations: Mumbai, India, BENGALURU, United States
Indian shares slip as IT stocks drag after Infosys, Wipro results
  + stars: | 2021-01-14 | by ( Sethuraman N R | ) www.reuters.com sentiment -1.00   time to read: +1 min
REUTERS/Shailesh Andrade/FilesBENGALURU (Reuters) - Indian shares edged lower on Thursday as investors booked profits in IT stocks after heavyweights Infosys and Wipro posted December-quarter results, while awaiting details on a major U.S. stimulus package due later in the day. Infosys Ltd shares, which rose over 6% this week in the run-up to the company’s results till Wednesday, were down 2.8%. Some of the stocks including Infosys have more than doubled since the pandemic unfolded in March,” said Saurabh Jain, assistant vice president of research at SMC Global Securities in New Delhi. Indian markets have hit new record highs in the past few days, helped by continued foreign fund inflows and progress in COVID-19 vaccine developments. Foreign investors pumped more than $20 billion into Indian equities last year, according to Refinitiv Eikon data.
Persons: Shailesh Andrade, , Saurabh Jain, , Joe Biden Organizations: REUTERS, Infosys, Wipro, BSE, Infosys Ltd, SMC Global Securities, U.S Locations: Mumbai, BENGALURU, U.S, New Delhi, COVID
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