Indian shares record gains
- 03 Feb 2021
Gulf Today Report
Indian shares gained on Wednesday following a survey result that indicated the country’s dominant services sector picked up due to an increase in demand.
The NSE Nifty 50 index rose 1.07% to 14,804.05 by 05:15 GMT, while the benchmark S&P BSE Sensex was up 1.01% at 50,298.31.
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Anita Gandhi, director at Arihant Capital Markets in Mumbai said, "the mood of the market has changed completely since the budget announcement because of its positive tone ... FPIs (foreign portfolio investors) were net sellers before the budget and that trend has reversed (now)."
The government plans to increase spending has revived growth, making the Nifty 50 gain 8.6% so far this week.
