Investment
Indian Stocks Climb as World’s Biggest Lockdown Draws to an End

(Bloomberg) — India stocks rose for a second day as the country entered the first phase of opening up its economy, with hotels, restaurants and shopping malls permitted to function after more than two months of lockdown.
The S&P BSE Sensex surged 1.8% to 38,887 as of 9:44 a.m. in Mumbai, while the NSE Nifty 50 Index advanced 1.7%.
Indian equities logged their second weekly gain Friday as global funds stepped up purchases after the government began easing curbs to revive an economy that’s set for its first full-year contraction in more than four decades. The resumption of a global rally in risk assets has seen foreigners pour more than $4 billion into local shares so far this quarter, the highest in Asia.
“Optimism has built up over the opening up of the economy and forecast of a good monsoon,” said Sudip Bandyopadhyay, who oversees investments at Inditrade Capital Ltd. in Mumbai. “The bigger reason has been the supportive global rally and foreigners buying heavily.”
The Numbers
- Eighteen of 19 sector sub-indexes compiled by BSE Ltd. gained, led by a gauge of banks
- Twenty-eight shares rose while two fell
- HDFC Bank Ltd. contributed most to the advance with a 2.5% increase, IndusInd Bank Ltd. was the biggest winner, gaining 7.2%; Sun Pharmaceutical Industries Ltd. was the biggest drag on the index and had the biggest drop, declining 0.8%
Related Stories
-
OER Magazines2 months ago
OER, April 25
-
Alamaliktistaad Magazines2 months ago
Al-Iktisaad, April 25
-
Renewables1 month ago
Jindal Renewables and OQ Alternative Energy Sign Joint Development Agreement to Advance Integrated Renewable Power Projects in Oman
-
Business2 months ago
St. Petersburg International Economic Forum 2025 unveils its Business Programme
-
Leaders Speak1 month ago
OERLive SPOTLIGHT: Oman Sustainability Week 2025 and Oman Petroleum & Energy Show
-
Alamaliktistaad Magazines1 month ago
Al-Iktisaad, May 25
-
Banking & Finance2 months ago
How is National Bank of Oman Working Towards Creating a Robust Fintech Ecosystem?
-
OER Magazines4 weeks ago
OER, May 2025