Financial, auto stocks lift Indian shares; Infosys top boost

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Financial, auto stocks lift Indian shares; Infosys top boost
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Indian shares rose on Wednesday, extending a rally from the previous session, as Infosys led gains in the heavyweight information technology sector, while auto stocks snapped a five-day losing streak.

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A broker trades on his computer terminal at a stock brokerage firm in Mumbai, January 20, 2016. REUTERS/Shailesh Andrade/Files

“Expectation of liquidity ballooning is keeping markets higher ... there is no reversal of equity funds flow,” said Nirali Shah, head of equity research at Samco Securities in Mumbai. Sentiment also got a lift as broader Asian markets bounced back from a two-month low after bond yields fell and concerns over inflation eased.The Nifty IT index was up 1.06%. Software services provider Infosys Ltd was the top boost to the Nifty 50, gaining 1%.

State-owned lender Bank of Baroda Ltd rose as much as 2%. The company will look for an investor in its credit card business and consider a potential listing for its insurance joint venture, its chief executive told Reuters on Tuesday.

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