Indian shares rise as bank stocks gain

A broker reacts while trading at his computer terminal at a stock brokerage firm in Mumbai, India, February 26, 2016. REUTERS/Shailesh Andrade/Files

BENGALURU (Reuters) – Indian shares edged up on Tuesday, supported by gains in beaten-down bank stocks, as sentiment was lifted by a pullback in U.S. 10-year bond yields.

The blue-chip NSE Nifty 50 index rose 0.4% to 14,793.80 and the benchmark S&P BSE Sensex gained 0.4% at 49,982.63, as of 0350 GMT.

The Nifty bank index gained 0.8% on Monday, while the public sector bank index rose 1.4%. The Nifty bank index had fallen over 5% in the past week.

India’s top court will pronounce a verdict over waiving interest on loans under moratorium later in the day.

Meanwhile, India’s market regulator said on Monday that stock exchanges and other market entities will need to switch quicker to backup sites to resume operations in case of disruptions like last month’s at the nation’s top bourse.

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