Shares rise on bank, metals boost; Paytm listing in focus


The blue-chip NSE Nifty 50 index climbed 0.25% to 17,943.65 and the benchmark S&P BSE Sensex added 0.26% to 60,166.58 by 0354 GMT.

Shares rose on Thursday, helped by banks and metal stocks, while investors focused on digital payments company Paytm’s stock market listing later in the day.

The blue-chip NSE Nifty 50 index climbed 0.25% to 17,943.65 and the benchmark S&P BSE Sensex added 0.26% to 60,166.58 by 0354 GMT.

Both indexes have struggled this week, hurt by a combination of rising inflation worries globally, an end to the domestic September-quarter earnings season, and selling by foreign institutional investors.

All eyes are on Paytm’s stock market debut, whose initial public offering of 183 billion rupees is India’s biggest.

The Nifty Bank Index rose 0.49% and was on track to snap a three-day losing streak. State Bank of India gained 1%.

The Nifty Metal Index added 0.20% and was also on track to snap three sessions of losses. Copper and aluminium producer Hindalco Industries was up 1.4% to be the top percentage gainer on the Nifty 50.

Broader global stock markets slipped as rising inflation worries clouded the outlook for interest rates and growth.

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Jitendra Kumar

Jitendra Kumar Born on October 10, 1990 an Indian author and activist from Hathras in Uttar Pradesh.