India's Nifty tops 10,000 as economic reopening boosts risk appetite

India's Nifty tops 10,000 as economic reopening boosts risk appetite

03 Jun 2020 11:45 AM
 

Indian shares extended gains for a sixth session and the Nifty crossed the 10,000 mark for the first time since March 13, as Asia's third-largest economy gradually comes out of COVID-19 lockdowns and risk appetite picks up in global markets.

The NSE Nifty 50 bluechip index rose 1.32% to 10,110.55 as of 10:38 am, while the S&P BSE Sensex was up 1.23% at 34,240.90.

The Nifty-50 bluechip index was up over 5% so far this week, following a similar rally last week. The bank index rose 2.7%, while the financial index gained 2.4%.

Meanwhile, the number of coronavirus cases in India surged past 200,000 as of Wednesday, with the growth rate of new infections showing no sign of slowing.