May 5, 2020 / 4:09 AM / a month ago

Indian shares track global markets higher as governments ease lockdowns

BENGALURU, May 5 (Reuters) - Indian shares rebounded on Tuesday, led by a jump in beaten-down banking stocks, as Asian markets tracked Wall Street higher after governments eased coronavirus lockdowns.

The NSE Nifty 50 index was up 1.64% at 9,445.60 by 0350 GMT, while the S&P BSE Sensex was 1.68% higher at 32,250.50. The indexes had fallen nearly 6% lower on Monday.

Stocks across Asia followed a late Wall Street surge on Monday, as the easing of lockdown restrictions in Italy and parts of the United States spurred hopes of a pick up in economic activity.

India had tallied more than 40,000 cases of the new coronavirus and deaths from the COVID-19 disease it causes had crossed 1,500 by Tuesday. (Reporting by Sachin Ravikumar; Editing by Anil D’Silva)

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