Indian shares recoup losses; Infosys halts losing streak

Indian shares rebounded from two-day falls on Tuesday, tracking broader Asian shares after modest gains on Wall Street.

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 rebounded from two-day falls on Tuesday, tracking broader Asian shares after modest gains on Wall Street.

The S&P BSE Sensex gained 0.11 percent at 31,291 while the broader NSE Nifty advanced 0.11 at 9,765.

Infosys, country's second largest software exporter, which had crashed over 15 percent in the past two sessions after Vishal Sikka's surprise resignation last Friday as CEO, recovered by 1 percent.

Among the other top index gainers: Dr Reddy's rose 2.7 percent, ONGC gained 1.1 percent, Axis Bank added 1 percent while Wipro was up 0.6 percent.

Lupin rose 2.3 percent after the drugmaker said that it has received an establishment inspection report from the U.S. Food and Drug Administration for its Aurangabad facility in Maharashtra.

HCL Infosystems jumped 9 percent after the company said it will distribute Apple products, including the iconic iPhone, in the Indian market.

McNally Bharat Engineering advanced 2 percent after it won order worth Rs 514 crore.

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

In Asia, shares advanced after modest gains on Wall Street even as caution remained ahead of a meeting of central bankers.

Markets are focusing on the annual conference of global central bankers hosted by the Kansas City Federal Reserve Bank at Jackson Hole, Wyoming.

Fed Chair Janet Yellen and European Central Bank President Mario Draghi will be among the officials addressing the summit, which kicks off on Thursday.

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