Indian shares rise on IT, metal boost; set for weekly loss
People walk past the Bombay Stock Exchange (BSE) building in Mumbai, India, November 4, 2020. REUTERS/Francis Mascarenhas/File photo
Indian shares opened higher on Friday, lifted by gains in tech and metal stocks after an overnight rally on Wall Street, but were headed for their first weekly loss in six.
The NSE Nifty 50 index was up 0.81% at 17,663.85, as of 0400 GMT, while the S&P BSE Sensex gained 0.8% at 59,245.16. The indexes are on course for a weekly loss of over 1%, after five straight weeks of gains.
The Nifty IT index climbed 1.6% after four straight sessions of losses, while the Nifty Metal index added 2%.
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However, investors are likely to be cautious ahead of the US Federal Reserve's annual monetary policy conference, looking for clues on how much higher US interest rates would need to go and for how long.
