Indian shares gain on strong earnings; Asian Paints, Infosys shine

Indian shares extended gains on Tuesday, as investor sentiment remained upbeat due to strong corporate earnings and some decline in domestic cases of the novel coronavirus.

The blue-chip NSE Nifty 50 index rose 0.54% to 15,270.25 by 0355 GMT, while the benchmark S&P BSE Sensex was 0.48% higher at 50,920.06.

Infosys Ltd and Asian Paints Ltd were the top boosts to the Nifty 50, gaining 0.86% and 2.68%, respectively.

Investors` appetite has been aided by a steady decline in daily COVID-19 cases in India. The country on Tuesday posted 196,427 new cases over the last 24 hours, its lowest daily rise in infections since April 14, while deaths rose by 3,511.

In the broader Asian markets, shares climbed following a Wall Street rally overnight, while the dollar held near a fourth-month low as investors tempered fears about inflation-driven rate hikes.