The NSE Nifty 50 index .NSEI was up 2.46% at 9,817.45 by 0350 GMT, helped by a broadly stronger mood to Asian markets, while the S&P BSE Sensex .BSESN gained 2.44% to 33,206.18.

File image: Reuters

Financial stocks led Indian shares higher on Monday, as the country geared up to further open its economy after a months-long lockdown to curb the spread of the novel coronavirus.

The NSE Nifty 50 index .NSEI was up 2.46% at 9,817.45 by 0350 GMT, helped by a broadly stronger mood to Asian markets, while the S&P BSE Sensex .BSESN gained 2.44% to 33,206.18.

The Nifty 50 rose nearly 6% over the previous week led by a rally in beaten-down banking stocks.

The Nifty bank index rose 3.9%, while the financial index .NIFTYFIN gained 3.6%.

India permitted restaurants, malls and religious buildings to reopen from June 8 but extended lockdowns in high-risk zones until June 30 as a record high number of cases were detected nationwide on Saturday.

The reopen plan comes as data on Friday showed the domestic economy grew at 3.1% in the January-March quarter, its slowest pace in at least eight years.

Meanwhile, MSCI’s broadest index of Asia-Pacific shares outside Japan MIAPJ0000PUS rose 2% as progress on opening up economies helped offset jitters over riots in U.S. cities.

IndiaToday.in has plenty of useful resources that can help you better understand the coronavirus pandemic and protect yourself. Read our comprehensive guide (with information on how the virus spreads, precautions and symptoms), watch an expert debunk myths, and access our dedicated coronavirus page.
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