Indian shares edge up on positive global markets after Yellen boost

The blue-chip NSE Nifty 50 index rose 0.4% to 14,540 and the benchmark S&P BSE Sensex was up 0.2% at 49,507.12 by 0350 GMT

  
People walk past the Bombay Stock Exchange (BSE) building in Mumbai, India, November 4, 2020.

People walk past the Bombay Stock Exchange (BSE) building in Mumbai, India, November 4, 2020.

REUTERS/Francis Mascarenhas

BENGALURU: Indian shares inched higher on Wednesday in the run-up to a slew of corporate earnings and on positive global cues after U.S. Treasury Secretary nominee Janet Yellen advocated for a huge fiscal relief package in the United States.

The blue-chip NSE Nifty 50 index rose 0.4% to 14,540 and the benchmark S&P BSE Sensex was up 0.2% at 49,507.12 by 0350 GMT. The Nifty and Sensex rose 1.7% on Tuesday.

Shares of Nifty 50 components Bajaj Finance and Bajaj Finserv were mostly flat ahead of their Dec. quarter earnings later in the day.

Asian shares climbed to a record high on Wednesday over Yellen's backing for more stimulus to help the world's largest economy ride out a pandemic-driven slump. 

(Reporting by Nallur Sethuraman in Bengaluru; Editing by Shailesh Kuber) ((Sethuraman.NR@thomsonreuters.com; (+91 8061822737); Reuters Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))

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