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Indian shares move up led by steel, technology shares

Indian shares move up led by steel, technology shares

Indian shares rose Thursday pushed up by technology and steel firms and strong market sentiments ruled by robust earnings in the last quarter.
The Bombay Stock Exchange's 30-stock Sensitive Index, or Sensex, rose 172.26 points, or 1.2 percent, to 14,151.62 points.
On the rival National Stock Exchange, the 50-stock S&P CNX Nifty ended up 57.8 points, or 1.4 percent, at 4,147.70 points.
"Markets were up today because of the smooth rollover. Instead of liquidating their positions, people have rolled them over," said S. Tulsian, an independent investment adviser and a member of the National Stock Exchange.
Market sentiment was positive due to strong earnings for the October-December quarter, he said.
Among the gainers Tata Steel Ltd. surged 5.8 percent to 509 rupees, Steel Authority of India Ltd. jumped 7 percent to 112 rupees, Wipro Ltd. jumped 2.9 percent to 650 rupees and Infosys Technologies Ltd. gained 0.5 percent to 2,241 rupees.
Markets will be closed Friday because of a national holiday, India's Republic day, and will be closed again on Tuesday to mark the Muslim holy month of Muharram.


Updated : 2021-03-05 18:35 GMT+08:00