Rising Covid-19 cases caps gains in Indian shares

The NSE Nifty 50 index rose 0.3% to 14,683.50 and the S&P BSE Sensex gained 0.1% to 49,201.39. The indexes rose as much as nearly 1% earlier in the day, after falling about 1.5% on Monday.

Indian shares rebounded on Tuesday to close higher, helped by pharma and metal stocks, while a second surge in domestic coronavirus cases and fears over its impact on the economy capped gains. The NSE Nifty 50 index rose 0.3% to 14,683.50 and the S&P BSE Sensex gained 0.1% to 49,201.39. The indexes rose as much as nearly 1% earlier in the day, after falling about 1.5% on Monday. India breached the grim milestone of 100,000 daily infections for the first time on Monday, and cases jumped by 96,982 on Tuesday, data from the health ministry showed.