Indian shares up for third straight day; Reliance gains

  • Reuters
  • Stock Market News
Indian shares up for third straight day; Reliance gains

BENGALURU, March 3 (Reuters) - India's main stock indexes rose for a third straight session on Wednesday, supported by gains in Reliance Industries and assurances from the government that it had enough COVID-19 vaccine doses to cover its population.

The government said on Tuesday there were plenty of COVID-19 vaccines for the country even though it has sent quantities abroad. NSE Nifty 50 index .NSEI rose 0.88% to 15,046.55 by 0347 GMT, while the S&P BSE Sensex .BSESN gained 0.8% to 50,699.74.

Reliance Industries RELI.NS was the top boost to the Nifty 50, gaining roughly 1% in early trade.

The conglomerate's telecoms unit Reliance Jio Infocomm won airwaves worth about $8 billion in a $10.6-billion spectrum auction that closed on Tuesday. Bharti Airtel BRTI.NS bought spectrum worth $2.55 billion, while Vodafone Idea (NS: VODA ) picked up airwaves for $272.25 million.

Airtel's shares were up 0.79% and Vodafone (LON: VOD ) rose 1.32%.

In broader Asian markets, the rally lost steam, with the MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS slipping 0.35% as investors paused to assess volatility in both shares and bonds. MKTS/GLOB

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