Indian shares closed higher for a fifth straight session on Tuesday, as gains in IT and beaten down financial companies helped Mumbai's main indexes outperform other stock markets after a week-long rally.
Heavyweight shadow lender Bajaj Finance Ltd was the top gainer on the Nifty, jumping 7.8% to its best close since mid-March, after it said assets under a moratorium offered by the central bank had fallen at June-end.
The Nifty ended up 0.33% at 10,799.65, while the benchmark Sensex rose 0.51% to 36,674.52, both closing at four-month peaks.
Including Tuesday's close, the indexes have gained around 5% over the last five sessions, and more than 40% from four-year lows hit in March when virus fears had pummelled markets.
Meanwhile, a five-day rally in world stocks fizzled on Tuesday as caution reigned about renewed coronavirus lockdowns, although Chinese stocks continued to surge.
IT firm Infosys Ltd rose 4% to its highest since Feb
Private-sector lender IndusInd Bank Ltd climbed 6.1%, while larger rival ICICI Bank Ltd advanced 3.9%, pushing the Nifty Bank Index 1.9% higher. IT firm Infosys Ltd rose 4% to its highest since Feb. 25, while the Nifty IT index climbed 2.1%.
However, gains were kept in check as coronavirus cases in the world's second-most populous country jumped to 719,665, including 20,160 deaths. India on Monday overtook Russia to become the third-most affected country by the novel coronavirus.
Adani Ports and Special Economic Zone Ltd slid 3.8%, electricity generator NTPC Ltd shed 2.8% and consumer goods giant ITC Ltd slipped 2.8%. Heavyweight conglomerate Reliance Industries Ltd dropped 1.5%, dragging the Nifty Energy Index 2% lower.
