Sensex, Nifty end higher as D-Street ignores rising Covid cases

The blue-chip NSE Nifty 50 index rose 2.3% to 14,845.10 and the benchmark S&P BSE Sensex gained 2.2% at 50,084. Both the indexes fell more than 1% last week.

Indian shares surged on Tuesday, driven by gains in banks and JSW Steel after the steel conglomerate completed the purchase of a rival under a bankruptcy resolution law, helping lenders to recover some of their bad loans. The blue-chip NSE Nifty 50 index rose 2.3% to 14,845.10 and the benchmark S&P BSE Sensex gained 2.2% at 50,084. Both the indexes fell more than 1% last week. JSW Steel, which rose 5%, said on Friday evening it had completed a resolution plan for Bhushan Steel and Power, including payment of 193.50 billion rupees ($2.66 billion) to financial creditors. Indian markets were closed for a holiday on Monday.