BENGALURU, Jan 20 (Reuters) - Indian shares ended higher on
Wednesday, led by gains in information technology and Reliance
Industries, while U.S. Treasury Secretary nominee Janet Yellen's
push for a big pandemic relief package also aided investor
sentiment.
The blue-chip NSE Nifty 50 index closed 0.85% up at
14,644.70, while the benchmark S&P BSE Sensex added
0.8% to end at 49,792.12. The Nifty and Sensex ended the
previous session more than 1% higher.
At her confirmation hearing on Tuesday, Yellen urged U.S.
lawmakers to "act big" on the next coronavirus relief package,
adding that the benefits outweigh the costs of a higher debt
burden.
"Janet Yellen's statement that the United States needs a big
stimulus push has pumped markets across the globe, including
India," said Ajit Mishra, vice president, research at Religare
Broking.
Also moving the markets were expectations of positive
announcements from India's upcoming budget and encouraging
corporate earnings, Mishra said.
Reliance Industries rose 1.9% and was the top
boost to the Nifty 50 index. The oil-to-telecom conglomerate has
gained nearly 6% this week ahead of its December-quarter results
on Friday.
The Nifty IT index added 2.2%, the top boost to
the Nifty index, with Infosys Ltd and Tata Consultancy
Ltd rising 1.7% and 1.5%, respectively. The index
gained about 55% in 2020 and about 9.8% so far this year.
The Nifty auto index rose 2.3%, led by a 6.30%
rise in Tata Motors and a 2.8% surge in Maruti Suzuki
Ltd. Tata Motors' shares have gained nearly 50% so far
this month.
Shares of power utility Adani Transmission Ltd's
jumped 6.1% after strong December-quarter operational metrics https://www.bseindia.com/xml-data/corpfiling/AttachLive/63a30dbb-d0df-4577-90fd-329f0b25bfb1.pdf.
(Reporting by Nallur Sethuraman in Bengaluru; Editing by
Ramakrishnan M.)