Indian shares rebound as financials jump [Reuters]
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Source: Reuters
Indian shares rebound as financials jump BENGALURU, April 16 (Reuters) - Indian shares snapped two sessions of losses on Thursday on the back of gains in financial stocks, as sentiment improved after daily coronavirus death tolls in some European countries fell. The NSE Nifty 50 index closed 0.76% higher at 8,992.8, while the benchmark S&P BSE Sensex rose 0.73% to 30,602.61. Both the indexes had fallen as much as 1.2% earlier in the session. Leading world stocks higher, the pan-European STOXX 600 index rose over 1% in early trade, spurred by a drop in the virus death tolls in both Spain and Italy. The Nifty 50 has rebounded around 20% from multi-year lows hit in March. But Goldman Sachs warned it does not see a “sustainable recovery rally” in the Nifty. “We lower India to marketweight within Asia on delayed recovery and extended valuations with a Nifty target of 9,600 by June 2021,” Goldman said. Already reeling from a slowdown in economic growth, India earlier this week extended a lo
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