BENGALURU — Indian shares inched higher on Wednesday, extending the previous session’s rally on the back of gains in IT and auto stocks, as fears of a potential Russian invasion into Ukraine eased.
The NSE Nifty 50 index rose 0.5% to 16,430, as of 0346 GMT, while the S&P BSE Sensex was up 0.55% at 58,461.67. Both the indexes had closed up 3% on Tuesday.
Global stocks rebounded after the Russian defense ministry published footage to demonstrate it was returning some troops to base after exercises.
The Nifty IT index rose 0.7%, while the auto index climbed 0.6%. (Reporting by Nallur Sethuraman in Bengaluru; Editing by Subhranshu Sahu)