Indian shares recoup even as Mumbai reels under heavy rains

Indian shares recouped from last session's plunge on Wednesday as investors shrugged off geopolitical tensions a day after North Korea fired a missile that flew over northern Japan.

india trader
Reuters

Indian shares recouped from last session's plunge on Wednesday as investors shrugged off geopolitical tensions a day after North Korea fired a missile that flew over northern Japan.

The S&P BSE Sensex rose 0.82 percent at 31,646 while the broader NSE Nifty gained 0.90 percent at 9,884.

Trading volumes in stock and bond markets was relatively low as country's financial hub Mumbai came to a standstill following the worst downpour in 12 years.

Among the top index gainers: HDFC rose 1.8 percent, Reliance Industries advanced 2.1 percent, Adani Ports gained 1.9 percent while Coal India was up 1.4 percent.

Ujjivan Financial Services jumped 10 percent after the company said its arm Ujjivan Small Finance Bank granted "scheduled bank" status.

Minda Industries gained 3 percent after the company said it will acquire 60 percent stake in MI Torica India for Rs 8.80 crore.

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

Meanwhile Asian shares advanced following gains on Wall Street overnight.

MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.35 percent.

Asian markets were roiled on Tuesday after North Korea fired a missile that flew over Japan and landed in the Pacific waters about 1,180 kilometers (735 miles) off the northern region of Hokkaido.

The United Nations, in a statement drafted by the United States, condemned the test but held back on any threat of new sanctions on the isolated state, Reuters reported.

india trader
Reuters

Indian shares recouped from last session's plunge on Wednesday as investors shrugged off geopolitical tensions a day after North Korea fired a missile that flew over northern Japan.

The S&P BSE Sensex rose 0.82 percent at 31,646 while the broader NSE Nifty gained 0.90 percent at 9,884.

Trading volumes in stock and bond markets was relatively low as country's financial hub Mumbai came to a standstill following the worst downpour in 12 years.

Among the top index gainers: HDFC rose 1.8 percent, Reliance Industries advanced 2.1 percent, Adani Ports gained 1.9 percent while Coal India was up 1.4 percent.

Ujjivan Financial Services jumped 10 percent after the company said its arm Ujjivan Small Finance Bank granted "scheduled bank" status.

Minda Industries gained 3 percent after the company said it will acquire 60 percent stake in MI Torica India for Rs 8.80 crore.

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

Meanwhile Asian shares advanced following gains on Wall Street overnight.

MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.35 percent.

Asian markets were roiled on Tuesday after North Korea fired a missile that flew over Japan and landed in the Pacific waters about 1,180 kilometers (735 miles) off the northern region of Hokkaido.

The United Nations, in a statement drafted by the United States, condemned the test but held back on any threat of new sanctions on the isolated state, Reuters reported.

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