Indian shares rise on bank, metals boost; Paytm listing in focus

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BENGALURU, Nov 18 (Businesshala) – Indian stocks rose on Thursday, helped by banks and metal stocks, while investors focused on digital payments company Paytm’s stock exchange listing later in the day.

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Blue-chip NSE Nifty 50 index climbed 0.25% to 17,943.65 and benchmark S&P BSE Sensex rose 0.26% at 60,166.58 by 0354 GMT.

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Both the indices struggled this week, hurt by rising global inflation concerns, the end of the domestic September-quarter earnings season and selling by foreign institutional investors.

All eyes are on Paytm’s stock market debut, with its Rs 183 billion IPO as India’s biggest ever.

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The Nifty Bank index rose 0.49% and was on track to break the three-day losing streak. State Bank of India gained 1%.

The Nifty Metal index rose 0.20% and was on track to end three sessions of losses. Copper and aluminum producer Hindalco Industries was the top percentage gainer on the Nifty 50, up 1.4%.

Broader global stock markets tumbled as rising inflation concerns clouded interest rates and growth outlook.

Reporting by Anuron Kumar Mitra in Bengaluru; editing by Uttaresh.V

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