Banks lift Indian shares after top court rejects loan moratorium extension

The blue-chip NSE Nifty 50 index ended up 0.5 per cent at 14,814.75 and the benchmark S&P BSE Sensex rose 0.6 per cent to 50,051.

Indian shares closed higher on Tuesday, boosted by bank stocks after India's top court rejected pleas for extending moratorium on bank loan repayments in a major relief to the sector. The blue-chip NSE Nifty 50 index ended up 0.5 per cent at 14,814.75 and the benchmark S&P BSE Sensex rose 0.6 per cent to 50,051. India's top court on Tuesday refused to extend a six-month moratorium on loan repayments that ended on August 31 last year. The Reserve Bank of India had allowed banks to offer the moratorium after a government-imposed Covid-19 lockdown.