Indian shares gain for second day as lenders advance

Indian shares rose for a second session on Tuesday, led by state-owned lenders after HDFC Bank posted a 20 percent jump in quarterly profit.

sensex
A man looks at a screen across a road displaying the Sensex on the facade of the Bombay Stock Exchange (BSE) building in Mumbai, India. REUTERS

Indian shares rose for a second session on Tuesday, led by state-owned lenders after HDFC Bank posted a 20 percent jump in quarterly profit.

The S&P BSE Sensex gained 0.31 percent at 32,607 while the broader NSE Nifty rose 0.22 percent to 10,207.

Among the top Sensex gainers: NTPC rose 2.9 percent, ONGC added 2.6 percent, Asian Paints gained 4.1 percent while State Bank of India advanced 3.6 percent.

The S&P BSE PSU Index jumped about 2 percent, led by Syndicate Bank up 7 percent, Andhra Bank gaining 7 percent, Punjab National Bank rising 5.5 percent while IBI Bank added 5 percent.

HDFC Bank gained 0.1 percent after posting a 20.1 percent jump in its September quarter net profit due to higher net interest income and other income.

Ramco Systems shares jumped 11 percent after the company said it has won a multi-million dollar payroll transformation order from a British multinational banking and financial services company.

Market breadth was in the favour of gainers, with about 2 stocks advancing to every 1 stock that declined.

Globally, Asian shares hovered near decade highs.

MSCI's broadest index of Asia-Pacific shares outside Japan was 0.1 percent firmer at 549.71 points, not far from a 10-year high of 554.63 set last week.

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