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Indian shares hit two-week high

Agencies . Bengaluru
19 Jan 2023 00:00:00 | Update: 19 Jan 2023 00:22:13
Indian shares hit two-week high

Indian stocks on Wednesday closed at their highest levels in over two weeks, lifted by metals and financials, while foreign investors buying domestic stocks further boosted sentiment.

The Nifty 50 index (.NSEI) closed 0.62% higher at 18,165.35, while the S&P BSE Sensex (.BSESN) rose 0.64% to 61,045.74, extending gains for the second straight day.

The 30-stock gauge settled above 61,000 for the first time since Jan. 3, reported Reuters.

Metal stocks (.NIFTYMET) advanced over 1.6%, benefitting from China’s flurry of policies, rolled out to assist homebuyers and property developers and relieve a long-running liquidity squeeze in the industry.

“This will boost demand for construction materials and ultimately for metals,” said Saurabh Jain, assistant vice-president, research, at SMC Global Securities.